Pekin Hardy Strauss Inc. Trims Stake in Alerian MLP ETF (NYSEARCA:AMLP)

Pekin Hardy Strauss Inc. cut its position in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,997 shares of the exchange traded fund’s stock after selling 275 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Alerian MLP ETF were worth $2,686,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. MGB Wealth Management LLC boosted its position in shares of Alerian MLP ETF by 1.0% during the third quarter. MGB Wealth Management LLC now owns 48,694 shares of the exchange traded fund’s stock valued at $2,295,000 after buying an additional 473 shares during the period. Kingsview Wealth Management LLC lifted its stake in shares of Alerian MLP ETF by 25.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 93,803 shares of the exchange traded fund’s stock worth $4,421,000 after acquiring an additional 19,023 shares during the last quarter. Cerity Partners LLC boosted its holdings in Alerian MLP ETF by 15.8% during the 3rd quarter. Cerity Partners LLC now owns 90,620 shares of the exchange traded fund’s stock valued at $4,271,000 after acquiring an additional 12,391 shares during the period. Nicolet Advisory Services LLC grew its position in Alerian MLP ETF by 1.2% in the 3rd quarter. Nicolet Advisory Services LLC now owns 205,175 shares of the exchange traded fund’s stock valued at $9,742,000 after acquiring an additional 2,449 shares during the last quarter. Finally, Nwam LLC bought a new position in Alerian MLP ETF in the 3rd quarter valued at $7,729,000.

Alerian MLP ETF Trading Up 1.0 %

NYSEARCA:AMLP opened at $49.63 on Friday. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 13.08 and a beta of 0.48. Alerian MLP ETF has a twelve month low of $41.06 and a twelve month high of $49.67. The stock has a fifty day simple moving average of $47.45 and a 200-day simple moving average of $47.12.

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.