Insider Selling: Alerian MLP ETN (NYSEARCA:AMJB) CEO Sells $3,784,606.65 in Stock

Alerian MLP ETN (NYSEARCA:AMJB) CEO Mary Erdoes sold 12,345 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $306.57, for a total transaction of $3,784,606.65. Following the transaction, the chief executive officer owned 639,047 shares of the company’s stock, valued at approximately $195,912,638.79. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Alerian MLP ETN Trading Down 2.8%

NYSEARCA:AMJB opened at $32.80 on Friday. Alerian MLP ETN has a one year low of $28.00 and a one year high of $35.75. The company has a fifty day moving average price of $34.39 and a 200 day moving average price of $31.69.

Alerian MLP ETN Increases Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, March 2nd were paid a $0.506 dividend. The ex-dividend date was Monday, March 2nd. This is a positive change from Alerian MLP ETN’s previous dividend of $0.50.

Hedge Funds Weigh In On Alerian MLP ETN

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new position in shares of Alerian MLP ETN in the 4th quarter valued at $151,000. Lake Street Private Wealth LLC raised its stake in shares of Alerian MLP ETN by 31.6% in the 3rd quarter. Lake Street Private Wealth LLC now owns 133,560 shares of the company’s stock valued at $3,943,000 after buying an additional 32,075 shares in the last quarter. Nicolet Bankshares Inc. raised 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 valued at $5,756,000 after buying an additional 1,994 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 valued at $59,336,000 after buying an additional 130,000 shares in the last quarter.

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.