Alerian MLP ETN (NYSEARCA:AMJB) Sees Large Volume Increase – Still a Buy?

Alerian MLP ETN (NYSEARCA:AMJB) saw unusually-strong trading volume on Tuesday . 59,166 shares were traded during trading, an increase of 34% from the previous session’s volume of 44,117 shares.The stock last traded at $34.8850 and had previously closed at $34.12.

Alerian MLP ETN Stock Up 2.5%

The business has a fifty day moving average price of $35.20 and a 200-day moving average price of $33.78.

Alerian MLP ETN Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were paid a dividend of $0.5079 per share. This is a boost from Alerian MLP ETN’s previous dividend of $0.51. The ex-dividend date of this dividend was Friday, May 29th.

Insider Transactions at Alerian MLP ETN

In other news, insider Ashley Bacon sold 4,070 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $309.42, for a total value of $1,259,339.40. Following the completion of the sale, the insider owned 248,785 shares of the company’s stock, valued at approximately $76,979,054.70. This represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mary E. Erdoes sold 6,648 shares of Alerian MLP ETN stock in a transaction on Friday, May 15th. The stock was sold at an average price of $298.36, for a total transaction of $1,983,497.28. Following the completion of the transaction, the chief executive officer owned 632,399 shares in the company, valued at approximately $188,682,565.64. The trade was a 1.04% 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. In the last quarter, insiders sold 194,732 shares of company stock worth $59,774,585.

Institutional Investors Weigh In On Alerian MLP ETN

Several institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC purchased a new position in Alerian MLP ETN in the 4th quarter worth approximately $151,000. NewEdge Advisors LLC bought a new position in Alerian MLP ETN in the first quarter worth about $209,000. Nicolet Bankshares Inc. lifted its position in Alerian MLP ETN by 1.0% during the third quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock valued at $5,756,000 after buying an additional 1,994 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Alerian MLP ETN by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock valued at $59,336,000 after purchasing an additional 130,000 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.