Financial Management Network Inc. Invests $6.29 Million in Alerian MLP ETF (NYSEARCA:AMLP)

Financial Management Network Inc. bought a new position in Alerian MLP ETF (NYSEARCA:AMLP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 132,050 shares of the exchange traded fund’s stock, valued at approximately $6,292,000. Alerian MLP ETF makes up about 1.3% of Financial Management Network Inc.’s holdings, making the stock its 20th largest holding.

A number of other hedge funds have also modified their holdings of AMLP. Russell Investments Group Ltd. bought a new stake in Alerian MLP ETF during the 1st quarter worth approximately $27,000. Asset Dedication LLC grew its position in Alerian MLP ETF by 1,244.0% during the 2nd quarter. Asset Dedication LLC now owns 672 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 622 shares during the last quarter. Massmutual Trust Co. FSB ADV bought a new position in Alerian MLP ETF in the 3rd quarter valued at $40,000. ORG Wealth Partners LLC bought a new position in Alerian MLP ETF in the 3rd quarter valued at $41,000. Finally, Ridgewood Investments LLC bought a new position in Alerian MLP ETF in the 2nd quarter valued at $52,000.

Alerian MLP ETF Stock Performance

AMLP traded up $0.03 during mid-day trading on Friday, reaching $46.95. The stock had a trading volume of 143,319 shares, compared to its average volume of 1,292,622. The firm’s fifty day simple moving average is $47.06 and its two-hundred day simple moving average is $47.01. The stock has a market capitalization of $8.45 billion, a P/E ratio of 13.08 and a beta of 0.48. Alerian MLP ETF has a 52 week low of $41.06 and a 52 week high of $49.44.

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.