Alerian MLP ETF (NYSEARCA:AMLP) Reaches New 12-Month High – Here’s Why

Alerian MLP ETF (NYSEARCA:AMLP) shares reached a new 52-week high on Wednesday . The company traded as high as $52.65 and last traded at $52.47, with a volume of 1854149 shares. The stock had previously closed at $51.71.

Alerian MLP ETF Trading Up 0.3 %

The company has a fifty day moving average price of $49.36 and a two-hundred day moving average price of $47.99. The firm has a market capitalization of $9.37 billion, a price-to-earnings ratio of 13.08 and a beta of 0.48.

Hedge Funds Weigh In On Alerian MLP ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cypress Wealth Services LLC increased its holdings in shares of Alerian MLP ETF by 3.7% during the 3rd quarter. Cypress Wealth Services LLC now owns 6,021 shares of the exchange traded fund’s stock worth $284,000 after buying an additional 217 shares during the last quarter. Retirement Planning Group LLC grew its position in Alerian MLP ETF by 2.9% in the third quarter. Retirement Planning Group LLC now owns 7,830 shares of the exchange traded fund’s stock worth $369,000 after acquiring an additional 218 shares during the period. Capital Investment Advisory Services LLC increased its stake in Alerian MLP ETF by 2.8% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,024 shares of the exchange traded fund’s stock worth $386,000 after acquiring an additional 222 shares during the last quarter. Opal Wealth Advisors LLC raised its position in Alerian MLP ETF by 2.7% in the third quarter. Opal Wealth Advisors LLC now owns 9,167 shares of the exchange traded fund’s stock valued at $432,000 after purchasing an additional 242 shares during the period. Finally, Mach 1 Financial Group LLC lifted its stake in shares of Alerian MLP ETF by 2.4% in the 3rd quarter. Mach 1 Financial Group LLC now owns 10,487 shares of the exchange traded fund’s stock valued at $494,000 after purchasing an additional 244 shares during the last quarter.

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.