Oak Harvest Investment Services Invests $3.75 Million in Alerian MLP ETF $AMLP

Oak Harvest Investment Services purchased a new stake in Alerian MLP ETF (NYSEARCA:AMLP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 76,651 shares of the exchange traded fund’s stock, valued at approximately $3,745,000.

Other institutional investors have also added to or reduced their stakes in the company. Nova Wealth Management Inc. purchased a new stake in Alerian MLP ETF during the 2nd quarter worth approximately $28,000. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Alerian MLP ETF in the second quarter worth $29,000. Headlands Technologies LLC acquired a new stake in shares of Alerian MLP ETF during the first quarter worth $31,000. Crews Bank & Trust purchased a new stake in shares of Alerian MLP ETF during the second quarter valued at $39,000. Finally, Independence Bank of Kentucky increased its position in shares of Alerian MLP ETF by 517.5% in the 2nd quarter. Independence Bank of Kentucky now owns 988 shares of the exchange traded fund’s stock valued at $48,000 after acquiring an additional 828 shares during the period.

Alerian MLP ETF Stock Performance

Shares of AMLP stock opened at $46.25 on Friday. Alerian MLP ETF has a fifty-two week low of $43.75 and a fifty-two week high of $53.24. The firm has a market capitalization of $10.15 billion, a PE ratio of 14.17 and a beta of 0.70. The stock’s 50-day simple moving average is $46.78 and its 200-day simple moving average is $48.00.

Alerian MLP ETF Profile

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.