Summit Financial LLC Has $788,000 Holdings in Alerian MLP ETF (NYSEARCA:AMLP)

Summit Financial LLC boosted its holdings in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 27.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,370 shares of the exchange traded fund’s stock after buying an additional 3,548 shares during the period. Summit Financial LLC’s holdings in Alerian MLP ETF were worth $788,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC bought a new position in shares of Alerian MLP ETF in the fourth quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC lifted its position in Alerian MLP ETF by 400.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 625 shares of the exchange traded fund’s stock worth $30,000 after acquiring an additional 500 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in Alerian MLP ETF during the fourth quarter valued at about $38,000. City State Bank acquired a new stake in shares of Alerian MLP ETF in the fourth quarter valued at about $40,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Alerian MLP ETF in the fourth quarter worth about $63,000.

Alerian MLP ETF Stock Up 0.6 %

Shares of NYSEARCA:AMLP opened at $52.57 on Thursday. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 14.02 and a beta of 0.99. The business has a 50 day moving average price of $51.69 and a 200 day moving average price of $49.52. Alerian MLP ETF has a twelve month low of $44.21 and a twelve month high of $53.24.

Alerian MLP ETF Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, February 18th. Stockholders of record on Wednesday, February 12th were paid a $0.97 dividend. This is an increase from Alerian MLP ETF’s previous dividend of $0.94. The ex-dividend date of this dividend was Wednesday, February 12th.

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.