Alerian MLP ETF (NYSEARCA:AMLP) Shares Acquired by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. boosted its holdings in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 27.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,977 shares of the exchange traded fund’s stock after purchasing an additional 1,490 shares during the period. Pinnacle Associates Ltd.’s holdings in Alerian MLP ETF were worth $329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Russell Investments Group Ltd. purchased a new position in Alerian MLP ETF during the 1st quarter worth approximately $27,000. Asset Dedication LLC boosted its position in shares of Alerian MLP ETF by 1,244.0% in the second quarter. Asset Dedication LLC now owns 672 shares of the exchange traded fund’s stock worth $32,000 after buying an additional 622 shares during the period. Massmutual Trust Co. FSB ADV purchased a new position in shares of Alerian MLP ETF during the third quarter valued at $40,000. ORG Wealth Partners LLC acquired a new position in Alerian MLP ETF during the third quarter valued at $41,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Alerian MLP ETF in the 2nd quarter worth about $49,000.

Alerian MLP ETF Price Performance

NYSEARCA:AMLP opened at $46.48 on Monday. The stock has a market cap of $8.36 billion, a PE ratio of 13.08 and a beta of 0.48. Alerian MLP ETF has a fifty-two week low of $41.06 and a fifty-two week high of $49.44. The stock’s 50-day moving average is $47.06 and its two-hundred day moving average is $47.01.

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.