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

Alerian MLP ETF (NYSEARCA:AMLP)’s stock price hit a new 52-week high on Thursday . The company traded as high as $51.49 and last traded at $51.49, with a volume of 1200520 shares traded. The stock had previously closed at $50.79.

Alerian MLP ETF Stock Performance

The company’s 50-day simple moving average is $49.01 and its 200-day simple moving average is $47.88. The company has a market capitalization of $9.30 billion, a PE ratio of 13.08 and a beta of 0.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AMLP. Cypress Wealth Services LLC increased its stake in shares of Alerian MLP ETF by 3.7% during the third quarter. Cypress Wealth Services LLC now owns 6,021 shares of the exchange traded fund’s stock worth $284,000 after acquiring an additional 217 shares during the period. Retirement Planning Group LLC increased its position in Alerian MLP ETF by 2.9% during the 3rd quarter. Retirement Planning Group LLC now owns 7,830 shares of the exchange traded fund’s stock worth $369,000 after purchasing an additional 218 shares during the period. Opal Wealth Advisors LLC increased its position in Alerian MLP ETF by 2.7% during the 3rd quarter. Opal Wealth Advisors LLC now owns 9,167 shares of the exchange traded fund’s stock worth $432,000 after purchasing an additional 242 shares during the period. Mach 1 Financial Group LLC raised its stake in shares of Alerian MLP ETF by 2.4% during the 3rd quarter. Mach 1 Financial Group LLC now owns 10,487 shares of the exchange traded fund’s stock worth $494,000 after buying an additional 244 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its holdings in shares of Alerian MLP ETF by 1.7% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 16,219 shares of the exchange traded fund’s stock valued at $764,000 after buying an additional 265 shares during the period.

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.