MGB Wealth Management LLC Raises Holdings in Alerian MLP ETF (NYSEARCA:AMLP)

MGB Wealth Management LLC lifted its stake in Alerian MLP ETF (NYSEARCA:AMLP) by 1.0% during the third quarter, Holdings Channel reports. The institutional investor owned 48,694 shares of the exchange traded fund’s stock after acquiring an additional 473 shares during the quarter. Alerian MLP ETF makes up approximately 0.8% of MGB Wealth Management LLC’s investment portfolio, making the stock its 24th largest position. MGB Wealth Management LLC’s holdings in Alerian MLP ETF were worth $2,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in Alerian MLP ETF during the first quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new position in Alerian MLP ETF during the third quarter worth approximately $28,000. Asset Dedication LLC boosted its position in Alerian MLP ETF by 1,244.0% during the second quarter. Asset Dedication LLC now owns 672 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 622 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in Alerian MLP ETF during the third quarter worth approximately $40,000. Finally, ORG Wealth Partners LLC purchased a new position in Alerian MLP ETF during the third quarter worth approximately $41,000.

Alerian MLP ETF Price Performance

NYSEARCA AMLP opened at $49.63 on Friday. The company has a market cap of $8.93 billion, a PE ratio of 13.08 and a beta of 0.48. The stock’s 50 day simple moving average is $47.45 and its 200-day simple moving average is $47.12. Alerian MLP ETF has a 1-year low of $41.06 and a 1-year high of $49.67.

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.