Alerian MLP ETF (NYSEARCA:AMLP) Sets New 12-Month High – Time to Buy?

Shares of Alerian MLP ETF (NYSEARCA:AMLP) hit a new 52-week high during trading on Friday . The company traded as high as $51.07 and last traded at $51.06, with a volume of 181674 shares changing hands. The stock had previously closed at $50.31.

Alerian MLP ETF Stock Performance

The stock has a market capitalization of $9.20 billion, a PE ratio of 13.08 and a beta of 0.48. The stock’s 50-day moving average price is $47.58 and its two-hundred day moving average price is $47.17.

Institutional Investors Weigh In On Alerian MLP ETF

Hedge funds and other institutional investors have recently bought and sold shares of the business. Retirement Planning Group LLC boosted its stake in Alerian MLP ETF by 24.3% in the 2nd quarter. Retirement Planning Group LLC now owns 7,612 shares of the exchange traded fund’s stock worth $365,000 after purchasing an additional 1,489 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in shares of Alerian MLP ETF by 22.2% in the second quarter. Dynamic Advisor Solutions LLC now owns 14,711 shares of the exchange traded fund’s stock worth $706,000 after buying an additional 2,673 shares in the last quarter. Optimum Investment Advisors grew its holdings in shares of Alerian MLP ETF by 40.0% during the second quarter. Optimum Investment Advisors now owns 1,400 shares of the exchange traded fund’s stock valued at $67,000 after buying an additional 400 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Alerian MLP ETF by 532.8% during the third quarter. Farther Finance Advisors LLC now owns 19,668 shares of the exchange traded fund’s stock valued at $927,000 after acquiring an additional 16,560 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in shares of Alerian MLP ETF by 2.1% during the second quarter. Apollon Wealth Management LLC now owns 74,193 shares of the exchange traded fund’s stock valued at $3,560,000 after acquiring an additional 1,526 shares in the last quarter.

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.