Partners Wealth Management LLC Buys 10,651 Shares of Alerian MLP ETF $AMLP

Partners Wealth Management LLC purchased a new position in shares of Alerian MLP ETF (NYSEARCA:AMLP) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,651 shares of the exchange traded fund’s stock, valued at approximately $552,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Allen Investment Management LLC increased its position in shares of Alerian MLP ETF by 6.8% in the 1st quarter. Allen Investment Management LLC now owns 4,005,535 shares of the exchange traded fund’s stock valued at $210,851,000 after purchasing an additional 254,444 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Alerian MLP ETF by 6.8% in the 1st quarter. Royal Bank of Canada now owns 2,414,295 shares of the exchange traded fund’s stock valued at $127,088,000 after acquiring an additional 154,146 shares during the period. Envestnet Asset Management Inc. raised its stake in Alerian MLP ETF by 6.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 965,702 shares of the exchange traded fund’s stock valued at $50,072,000 after acquiring an additional 57,663 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Alerian MLP ETF by 6.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 882,651 shares of the exchange traded fund’s stock worth $46,463,000 after purchasing an additional 56,516 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Alerian MLP ETF by 12.6% during the second quarter. NewEdge Advisors LLC now owns 627,920 shares of the exchange traded fund’s stock worth $32,558,000 after acquiring an additional 70,402 shares during the period.

Alerian MLP ETF Stock Performance

NYSEARCA:AMLP opened at $54.06 on Friday. Alerian MLP ETF has a 1 year low of $46.04 and a 1 year high of $56.43. The stock has a fifty day moving average price of $53.90 and a two-hundred day moving average price of $52.84. The stock has a market capitalization of $13.04 billion, a price-to-earnings ratio of 14.17 and a beta of 0.54.

About Alerian MLP ETF

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. The Index is comprised of 25 energy infrastructure MLPs. The fund will invest at least 90% of its total assets in securities, which comprise the Index (or depositary receipts based on such securities).