Alerian MLP ETF (NYSEARCA:AMLP) Sets New 52-Week High – Should You Buy?

Alerian MLP ETF (NYSEARCA:AMLP) reached a new 52-week high on Friday . The company traded as high as $49.47 and last traded at $49.32, with a volume of 183690 shares trading hands. The stock had previously closed at $49.13.

Alerian MLP ETF Stock Up 0.4 %

The firm has a market capitalization of $8.88 billion, a P/E ratio of 13.08 and a beta of 0.48. The firm has a 50 day moving average of $47.41 and a 200-day moving average of $47.11.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMLP. 1832 Asset Management L.P. lifted its stake in Alerian MLP ETF by 58.2% during the first quarter. 1832 Asset Management L.P. now owns 1,912,850 shares of the exchange traded fund’s stock worth $90,784,000 after purchasing an additional 703,620 shares during the last quarter. Hilton Capital Management LLC bought a new position in shares of Alerian MLP ETF in the 3rd quarter valued at $31,562,000. EP Wealth Advisors LLC raised its holdings in shares of Alerian MLP ETF by 10,423.5% during the 3rd quarter. EP Wealth Advisors LLC now owns 511,442 shares of the exchange traded fund’s stock worth $24,104,000 after buying an additional 506,582 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Alerian MLP ETF by 470.3% during the 1st quarter. Cetera Investment Advisers now owns 442,029 shares of the exchange traded fund’s stock worth $20,979,000 after buying an additional 364,516 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in Alerian MLP ETF by 260.0% in the second quarter. Blair William & Co. IL now owns 484,890 shares of the exchange traded fund’s stock valued at $23,265,000 after buying an additional 350,196 shares in 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.