Alerian MLP ETN (NYSEARCA:AMJB) Stock Crosses Below 200 Day Moving Average – Time to Sell?

Alerian MLP ETN (NYSEARCA:AMJB) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $35.13 and traded as low as $35.00. Alerian MLP ETN shares last traded at $35.00, with a volume of 12,232 shares changing hands.

Alerian MLP ETN Stock Performance

The company’s 50-day simple moving average is $36.17 and its 200-day simple moving average is $35.18.

Alerian MLP ETN Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, September 8th. Shareholders of record on Friday, August 28th were given a dividend of $0.4957 per share. The ex-dividend date was Friday, August 28th. This is a decrease from Alerian MLP ETN’s previous dividend of $0.5079.

Insider Transactions at Alerian MLP ETN

In other news, insider Robin Leopold sold 2,500 shares of Alerian MLP ETN stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $352.81, for a total transaction of $882,025.00. Following the completion of the sale, the insider directly owned 71,047 shares in the company, valued at approximately $25,066,092.07. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional Investors Weigh In On Alerian MLP ETN

Institutional investors and hedge funds have recently modified their holdings of the company. Lynx Investment Advisory acquired a new stake in shares of Alerian MLP ETN in the third quarter valued at approximately $204,000. IFP Advisors Inc increased its stake in shares of Alerian MLP ETN by 2.3% during the 3rd quarter. IFP Advisors Inc now owns 35,183 shares of the company’s stock worth $1,213,000 after purchasing an additional 800 shares in the last quarter. Benchmark Financial LLC raised its position in shares of Alerian MLP ETN by 5.4% during the 3rd quarter. Benchmark Financial LLC now owns 51,291 shares of the company’s stock worth $1,769,000 after purchasing an additional 2,637 shares during the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of Alerian MLP ETN during the 3rd quarter worth approximately $477,000. Finally, Value Investment Professionals LLC purchased a new stake in Alerian MLP ETN in the 3rd quarter valued at approximately $992,000.

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.