Avidian Wealth Solutions LLC Sells 1,341 Shares of Alerian MLP ETF (NYSEARCA:AMLP)

Avidian Wealth Solutions LLC trimmed its stake in Alerian MLP ETF (NYSEARCA:AMLP) by 9.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 13,141 shares of the exchange traded fund’s stock after selling 1,341 shares during the period. Avidian Wealth Solutions LLC’s holdings in Alerian MLP ETF were worth $624,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Wells Fargo & Company MN lifted its position in Alerian MLP ETF by 14.3% in the fourth quarter. Wells Fargo & Company MN now owns 4,946,698 shares of the exchange traded fund’s stock worth $210,334,000 after buying an additional 619,287 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Alerian MLP ETF by 10.1% in the 1st quarter. Raymond James & Associates now owns 1,437,498 shares of the exchange traded fund’s stock worth $68,224,000 after acquiring an additional 131,689 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Alerian MLP ETF by 6.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,415,927 shares of the exchange traded fund’s stock worth $60,205,000 after purchasing an additional 87,714 shares during the period. Rational Advisors LLC bought a new position in Alerian MLP ETF during the 1st quarter valued at about $65,064,000. Finally, 1832 Asset Management L.P. purchased a new stake in Alerian MLP ETF in the 4th quarter worth about $51,416,000.

Alerian MLP ETF Stock Performance

NYSEARCA AMLP traded down $0.18 during trading on Wednesday, hitting $48.15. The stock had a trading volume of 692,074 shares, compared to its average volume of 1,231,214. Alerian MLP ETF has a one year low of $39.84 and a one year high of $48.76. The stock has a 50 day simple moving average of $46.76 and a 200 day simple moving average of $45.82. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of 13.08 and a beta of 0.48.

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.