Insider Selling: Alerian MLP ETN (NYSEARCA:AMJB) CEO Sells 6,648 Shares of Stock

Alerian MLP ETN (NYSEARCA:AMJB) CEO Mary Erdoes sold 6,648 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $298.36, for a total transaction of $1,983,497.28. Following the sale, the chief executive officer directly owned 632,399 shares of the company’s stock, valued at approximately $188,682,565.64. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alerian MLP ETN Price Performance

AMJB traded up $0.11 during trading hours on Friday, reaching $36.91. 31,200 shares of the stock traded hands, compared to its average volume of 48,301. Alerian MLP ETN has a fifty-two week low of $28.00 and a fifty-two week high of $36.99. The firm’s fifty day simple moving average is $34.76 and its two-hundred day simple moving average is $32.51.

Alerian MLP ETN Increases Dividend

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

Hedge Funds Weigh In On Alerian MLP ETN

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in shares of Alerian MLP ETN by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock valued at $59,336,000 after buying an additional 130,000 shares during the last quarter. Lake Street Private Wealth LLC increased its stake in shares of Alerian MLP ETN by 31.6% in 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 last quarter. Nicolet Bankshares Inc. raised its holdings in Alerian MLP ETN by 1.0% in the third quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock valued at $5,756,000 after acquiring an additional 1,994 shares in the last quarter. Finally, Parallel Advisors LLC bought a new position in Alerian MLP ETN during the 4th quarter valued at $151,000.

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.