Alerian MLP ETN (NYSEARCA:AMJB) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Alerian MLP ETN (NYSEARCA:AMJB) saw 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 Performance

The company’s 50 day simple moving average is $35.20 and its 200-day simple moving average is $33.78.

Alerian MLP ETN Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a dividend of $0.5079 per share. The ex-dividend date of this dividend was Friday, May 29th. This is a positive change from Alerian MLP ETN’s previous dividend of $0.51.

Insider Activity at Alerian MLP ETN

In other news, insider Ashley Bacon sold 7,558 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total value of $2,316,904.90. Following the transaction, the insider directly owned 252,855 shares in the company, valued at $77,512,700.25. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Jeremy Barnum sold 5,611 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $306.55, for a total value of $1,720,052.05. Following the completion of the transaction, the chief financial officer directly owned 35,460 shares in the company, valued at $10,870,263. The trade was a 13.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 194,732 shares of company stock valued at $59,774,585 over the last quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMJB. Parallel Advisors LLC bought a new position in Alerian MLP ETN in the fourth quarter worth approximately $151,000. NewEdge Advisors LLC bought a new stake in shares of Alerian MLP ETN during the 1st quarter valued at $209,000. Nicolet Bankshares Inc. increased its stake in shares of Alerian MLP ETN by 1.0% in the 3rd quarter. Nicolet Bankshares Inc. now owns 194,978 shares of the company’s stock worth $5,756,000 after purchasing an additional 1,994 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Alerian MLP ETN by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,010,023 shares of the company’s stock worth $59,336,000 after purchasing an additional 130,000 shares in the last quarter.

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.