Covenant Asset Management LLC Acquires 12,400 Shares of Alerian MLP ETF (NYSEARCA:AMLP)

Covenant Asset Management LLC increased its holdings in Alerian MLP ETF (NYSEARCA:AMLP) by 34.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,824 shares of the exchange traded fund’s stock after buying an additional 12,400 shares during the period. Covenant Asset Management LLC’s holdings in Alerian MLP ETF were worth $481,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Envestnet Asset Management Inc. increased its position in shares of Alerian MLP ETF by 116.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 4,423,857 shares of the exchange traded fund’s stock valued at $44,371,000 after acquiring an additional 2,377,952 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Alerian MLP ETF in the 1st quarter valued at $11,643,000. Creative Planning increased its position in shares of Alerian MLP ETF by 8.4% in the 1st quarter. Creative Planning now owns 13,533,642 shares of the exchange traded fund’s stock valued at $135,742,000 after acquiring an additional 1,048,890 shares during the period. Wells Fargo & Company MN increased its position in shares of Alerian MLP ETF by 3.4% in the 1st quarter. Wells Fargo & Company MN now owns 27,712,109 shares of the exchange traded fund’s stock valued at $277,952,000 after acquiring an additional 916,351 shares during the period. Finally, Raymond James & Associates increased its position in shares of Alerian MLP ETF by 18.7% in the 1st quarter. Raymond James & Associates now owns 5,312,279 shares of the exchange traded fund’s stock valued at $53,282,000 after acquiring an additional 835,948 shares during the period.

Shares of NYSEARCA AMLP traded down $0.08 during mid-day trading on Friday, hitting $9.98. The stock had a trading volume of 195,853 shares, compared to its average volume of 15,311,440. The stock’s 50 day moving average price is $9.90. Alerian MLP ETF has a twelve month low of $8.27 and a twelve month high of $11.41.

Alerian MLP ETF Company 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.

Further Reading: Oversold

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Institutional Ownership by Quarter for Alerian MLP ETF (NYSEARCA:AMLP)

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