Alerian MLP ETN (NYSEARCA:AMJB) Reaches New 12-Month High – Still a Buy?

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

Alerian MLP ETN Trading Up 1.0%

The stock has a fifty day moving average of $35.47 and a two-hundred day moving average of $34.90.

Alerian MLP ETN Increases Dividend

The business also recently announced a dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were given a dividend of $0.5079 per share. The ex-dividend date 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, CEO Mary E. Erdoes sold 6,648 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $298.36, for a total value of $1,983,497.28. Following the completion of the sale, the chief executive officer owned 632,399 shares in the company, valued at $188,682,565.64. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,468 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the sale, the general counsel directly owned 46,428 shares in the company, valued at approximately $13,940,935.56. This represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,083 shares of company stock valued at $6,337,000 in the last ninety days.

Institutional Investors Weigh In On Alerian MLP ETN

A number of hedge funds and other institutional investors have recently modified their holdings of AMJB. Parallel Advisors LLC acquired a new stake in shares of Alerian MLP ETN during the 4th quarter valued at approximately $151,000. NewEdge Advisors LLC acquired a new stake in shares of Alerian MLP ETN in the 1st quarter worth approximately $209,000. Finally, JPMorgan Chase & Co. increased its stake 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.

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.