Alerian MLP ETN (NYSEARCA:AMJB) Shares Gap Down – Here’s Why

Shares of Alerian MLP ETN (NYSEARCA:AMJB) gapped down before the market opened on Friday . The stock had previously closed at $38.55, but opened at $37.18. Alerian MLP ETN shares last traded at $37.67, with a volume of 4,833 shares trading hands.

Alerian MLP ETN Price Performance

The firm’s 50-day simple moving average is $36.14 and its 200 day simple moving average is $35.29.

Alerian MLP ETN Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, September 8th. Investors of record on Friday, August 28th will be issued a $0.4957 dividend. The ex-dividend date is Friday, August 28th.

Insider Buying and Selling

In related news, insider Robin Leopold sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $361.41, for a total transaction of $903,525.00. Following the completion of the sale, the insider directly owned 73,547 shares in the company, valued at approximately $26,580,621.27. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Stacey Friedman sold 5,467 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $330.73, for a total value of $1,808,100.91. Following the completion of the transaction, the general counsel directly owned 40,961 shares in the company, valued at $13,547,031.53. This represents a 11.78% 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.

Hedge Funds Weigh In On Alerian MLP ETN

Hedge funds have recently modified their holdings of the stock. Smallwood Wealth Investment Management LLC raised its position in shares of Alerian MLP ETN by 1.5% during the second quarter. Smallwood Wealth Investment Management LLC now owns 93,326 shares of the company’s stock worth $3,219,000 after purchasing an additional 1,424 shares during the period. RPg Family Wealth Advisory LLC lifted its holdings in shares of Alerian MLP ETN by 37.4% during the second quarter. RPg Family Wealth Advisory LLC now owns 165,639 shares of the company’s stock valued at $5,713,000 after purchasing an additional 45,061 shares during the last quarter. Risk Paradigm Group LLC boosted its position in shares of Alerian MLP ETN by 34.1% in the 2nd quarter. Risk Paradigm Group LLC now owns 150,358 shares of the company’s stock valued at $5,186,000 after purchasing an additional 38,210 shares during the period. Parallel Advisors LLC boosted its position 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 period. Finally, NewEdge Advisors LLC purchased a new position in Alerian MLP ETN in the 1st quarter worth about $209,000.

Alerian MLP ETN Company Profile

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.