Alerian MLP ETN (NYSEARCA:AMJB) Reaches New 1-Year High – Here’s Why

Shares of Alerian MLP ETN (NYSEARCA:AMJB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $37.67 and last traded at $37.67, with a volume of 18587 shares changing hands. The stock had previously closed at $37.30.

Alerian MLP ETN Stock Performance

The company has a 50 day simple moving average of $35.47 and a 200 day simple moving average of $34.90.

Alerian MLP ETN Increases Dividend

The business also recently announced a dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a $0.5079 dividend. The ex-dividend date of this dividend was Friday, May 29th. This is an increase from Alerian MLP ETN’s previous dividend of $0.51.

Insider Transactions at Alerian MLP ETN

In related news, insider Robin Leopold sold 2,500 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the sale, the insider directly owned 73,547 shares of the company’s stock, valued at $26,580,621.27. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of Alerian MLP ETN stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total transaction of $1,808,100.91. Following the completion of the transaction, the general counsel owned 40,961 shares in the company, valued at approximately $13,547,031.53. This trade represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,083 shares of company stock worth $6,337,000 over the last 90 days.

Institutional Trading of Alerian MLP ETN

Several hedge funds and other institutional investors have recently made changes to their positions in AMJB. Parallel Advisors LLC acquired a new position in shares of Alerian MLP ETN during the fourth quarter worth about $151,000. NewEdge Advisors LLC purchased a new stake in Alerian MLP ETN in the 1st quarter valued at approximately $209,000. Finally, JPMorgan Chase & Co. boosted its holdings in Alerian MLP ETN by 16.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock valued at $70,140,000 after purchasing an additional 335,000 shares in the last quarter.

Alerian MLP ETN Company Profile

The ALERIAN MLP INDEX ETNS DUE JANUARY 28, 2044 (AMJB) is an exchange-traded fund that is based on the Alerian MLP index. The fund tracks a market cap-weighted index of 50 North American energy MLPs. Securities are selected based on distributions. AMJB was launched on Apr 2, 2009 and is issued by JPMorgan Chase.