Sterling Investment Management LLC Buys 17,092 Shares of Alerian MLP ETF (NYSEARCA:AMLP)

Sterling Investment Management LLC increased its position in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 54.9% in the first quarter, Holdings Channel.com reports. The firm owned 48,216 shares of the exchange traded fund’s stock after purchasing an additional 17,092 shares during the quarter. Alerian MLP ETF comprises approximately 1.8% of Sterling Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. Sterling Investment Management LLC’s holdings in Alerian MLP ETF were worth $2,504,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of Alerian MLP ETF by 22.6% in the 4th quarter. JPMorgan Chase & Co. now owns 65,240 shares of the exchange traded fund’s stock valued at $3,142,000 after purchasing an additional 12,026 shares in the last quarter. Edgemoor Investment Advisors Inc. bought a new stake in Alerian MLP ETF during the 4th quarter valued at $214,000. Bank of Montreal Can increased its holdings in shares of Alerian MLP ETF by 7.7% in the 4th quarter. Bank of Montreal Can now owns 15,463 shares of the exchange traded fund’s stock valued at $745,000 after acquiring an additional 1,103 shares during the period. Fisher Asset Management LLC purchased a new stake in shares of Alerian MLP ETF during the 4th quarter worth $211,000. Finally, Bramshill Investments LLC boosted its position in Alerian MLP ETF by 102.5% during the fourth quarter. Bramshill Investments LLC now owns 30,000 shares of the exchange traded fund’s stock valued at $1,445,000 after purchasing an additional 15,186 shares in the last quarter.

Alerian MLP ETF Price Performance

AMLP opened at $48.93 on Thursday. The firm has a market capitalization of $10.41 billion, a PE ratio of 12.85 and a beta of 0.66. The business’s 50-day moving average is $48.17 and its two-hundred day moving average is $49.76. Alerian MLP ETF has a 1 year low of $43.75 and a 1 year high of $53.24.

Alerian MLP ETF Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 19th. Shareholders of record on Wednesday, May 14th were issued a $0.98 dividend. This is a positive change from Alerian MLP ETF’s previous quarterly dividend of $0.95. This represents a $3.92 annualized dividend and a yield of 8.01%.

Alerian MLP ETF Company Profile

ALERIAN MLP ETF seeks investment results that correspond (before fees and expenses) to the price and yield performance of its underlying index, the Alerian MLP Infrastructure Index (the Index). The Index is a rules based, modified capitalization weighted, float adjusted index intended to give investors a means of tracking the overall performance of the United States energy infrastructure Master Limited Partnership (MLP) asset class.