Covenant Asset Management LLC Boosts Stake in Alerian MLP ETF (NYSEARCA:AMLP)

Covenant Asset Management LLC raised its stake in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 121.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,636 shares of the exchange traded fund’s stock after acquiring an additional 19,009 shares during the period. Covenant Asset Management LLC’s holdings in Alerian MLP ETF were worth $1,668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Howard Wealth Management LLC lifted its stake in Alerian MLP ETF by 18.8% in the 4th quarter. Howard Wealth Management LLC now owns 11,097 shares of the exchange traded fund’s stock valued at $534,000 after buying an additional 1,760 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in Alerian MLP ETF by 3.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,904 shares of the exchange traded fund’s stock valued at $1,007,000 after purchasing an additional 760 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Alerian MLP ETF by 15.9% during the fourth quarter. Blue Trust Inc. now owns 36,606 shares of the exchange traded fund’s stock valued at $1,763,000 after acquiring an additional 5,035 shares in the last quarter. G&S Capital LLC grew its stake in shares of Alerian MLP ETF by 7.0% during the fourth quarter. G&S Capital LLC now owns 67,920 shares of the exchange traded fund’s stock valued at $3,271,000 after acquiring an additional 4,456 shares in the last quarter. Finally, MGB Wealth Management LLC grew its stake in shares of Alerian MLP ETF by 21.5% during the fourth quarter. MGB Wealth Management LLC now owns 59,155 shares of the exchange traded fund’s stock valued at $2,849,000 after acquiring an additional 10,461 shares in the last quarter.

Alerian MLP ETF Stock Performance

NYSEARCA:AMLP opened at $51.57 on Friday. The company has a market capitalization of $9.28 billion, a price-to-earnings ratio of 13.08 and a beta of 0.48. Alerian MLP ETF has a one year low of $43.59 and a one year high of $53.24. The stock has a 50-day simple moving average of $50.11 and a 200 day simple moving average of $48.37.

Alerian MLP ETF Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.97 per share. The ex-dividend date is Wednesday, February 12th. This is a boost from Alerian MLP ETF’s previous dividend of $0.94.

Alerian MLP ETF 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.