Financial Advocates Investment Management Trims Position in Alerian MLP ETF (NYSEARCA:AMLP)

Financial Advocates Investment Management cut its holdings in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 26.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,884 shares of the exchange traded fund’s stock after selling 20,597 shares during the period. Financial Advocates Investment Management’s holdings in Alerian MLP ETF were worth $2,634,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AMLP. Kovack Advisors Inc. increased its stake in shares of Alerian MLP ETF by 4.1% during the first quarter. Kovack Advisors Inc. now owns 9,682 shares of the exchange traded fund’s stock valued at $460,000 after buying an additional 384 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Alerian MLP ETF by 20.0% during the first quarter. J.W. Cole Advisors Inc. now owns 16,497 shares of the exchange traded fund’s stock valued at $783,000 after buying an additional 2,752 shares during the period. Private Advisor Group LLC increased its stake in shares of Alerian MLP ETF by 3.7% during the first quarter. Private Advisor Group LLC now owns 175,866 shares of the exchange traded fund’s stock valued at $8,347,000 after buying an additional 6,267 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Alerian MLP ETF during the first quarter valued at approximately $253,000. Finally, Janney Montgomery Scott LLC increased its stake in shares of Alerian MLP ETF by 2.7% during the first quarter. Janney Montgomery Scott LLC now owns 351,941 shares of the exchange traded fund’s stock valued at $16,703,000 after buying an additional 9,339 shares during the period.

Alerian MLP ETF Stock Down 0.4 %

Shares of AMLP stock opened at $46.53 on Friday. The stock has a market cap of $8.37 billion, a price-to-earnings ratio of 13.08 and a beta of 0.48. The business’s fifty day moving average is $47.06 and its 200 day moving average is $47.00. Alerian MLP ETF has a twelve month low of $41.06 and a twelve month high of $49.44.

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.