Alerian MLP ETN (NYSEARCA:AMJB) Sets New 1-Year High – Time to Buy?
by Doug Wharley · The Cerbat GemAlerian MLP ETN (NYSEARCA:AMJB – Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as $37.25 and last traded at $37.16, with a volume of 12235 shares changing hands. The stock had previously closed at $36.91.
Alerian MLP ETN Stock Up 0.7%
The company has a fifty day simple moving average of $34.81 and a two-hundred day simple moving average of $32.59.
Alerian MLP ETN Increases Dividend
The firm also recently declared a dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, March 2nd were paid a $0.506 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Alerian MLP ETN’s previous dividend of $0.50.
Insider Buying and Selling
In other news, CEO James Dimon sold 130,488 shares of Alerian MLP ETN stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.56, for a total value of $40,002,401.28. Following the transaction, the chief executive officer owned 1,680,625 shares in the company, valued at approximately $515,212,400. This trade represents a 7.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jennifer Piepszak sold 9,136 shares of Alerian MLP ETN stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.56, for a total value of $2,800,732.16. Following the completion of the transaction, the chief operating officer owned 90,001 shares in the company, valued at approximately $27,590,706.56. The trade was a 9.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 304,174 shares of company stock worth $93,293,944.
Hedge Funds Weigh In On Alerian MLP ETN
Several hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its stake in shares of 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 during the last quarter. Nicolet Bankshares Inc. increased its stake in shares of Alerian MLP ETN by 1.0% in the 3rd quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock valued at $5,756,000 after purchasing an additional 1,994 shares during the last quarter. Lake Street Private Wealth LLC increased its stake in shares of Alerian MLP ETN by 31.6% in the 3rd quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock valued at $3,943,000 after purchasing an additional 32,075 shares during the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Alerian MLP ETN by 24.1% in the 1st quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock valued at $217,000 after purchasing an additional 1,220 shares during the last quarter.
About Alerian MLP ETN
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.