Alerian MLP ETN (NYSEARCA:AMJB) General Counsel Stacey Friedman Sells 5,468 Shares of Stock

Alerian MLP ETN (NYSEARCA:AMJB) General Counsel Stacey Friedman sold 5,468 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $300.27, for a total transaction of $1,641,876.36. Following the completion of the sale, the general counsel owned 46,428 shares of the company’s stock, valued at $13,940,935.56. This trade represents a 10.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alerian MLP ETN Trading Down 0.8%

Shares of NYSEARCA AMJB opened at $37.16 on Thursday. The firm has a 50-day simple moving average of $34.92 and a 200-day simple moving average of $32.70. Alerian MLP ETN has a 52 week low of $28.00 and a 52 week high of $37.54.

Alerian MLP ETN Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, March 2nd were given a dividend of $0.506 per share. The ex-dividend date was Monday, March 2nd. This is an increase from Alerian MLP ETN’s previous dividend of $0.50.

Institutional Investors Weigh In On Alerian MLP ETN

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its position in Alerian MLP ETN by 16.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,345,023 shares of the company’s stock worth $70,140,000 after purchasing an additional 335,000 shares during the last quarter. Nicolet Bankshares Inc. boosted its stake in Alerian MLP ETN by 1.0% during the third quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock worth $5,756,000 after buying an additional 1,994 shares during the period. Lake Street Private Wealth LLC boosted its stake in Alerian MLP ETN by 31.6% during the third quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock worth $3,943,000 after buying an additional 32,075 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Alerian MLP ETN by 24.1% during the first quarter. Parallel Advisors LLC now owns 6,280 shares of the company’s stock worth $217,000 after buying an additional 1,220 shares during the period.

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.