Kovack Advisors Inc. Boosts Stock Position in Alerian MLP ETF (NYSEARCA:AMLP)

Kovack Advisors Inc. raised its position in Alerian MLP ETF (NYSEARCA:AMLP) by 41.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,391 shares of the exchange traded fund’s stock after acquiring an additional 4,228 shares during the quarter. Kovack Advisors Inc.’s holdings in Alerian MLP ETF were worth $693,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC grew its stake in Alerian MLP ETF by 13.0% during the 3rd quarter. LPL Financial LLC now owns 2,399,962 shares of the exchange traded fund’s stock worth $113,110,000 after buying an additional 275,254 shares during the last quarter. Stephens Inc. AR raised its holdings in shares of Alerian MLP ETF by 9.7% in the fourth quarter. Stephens Inc. AR now owns 1,079,417 shares of the exchange traded fund’s stock worth $51,985,000 after buying an additional 95,191 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Alerian MLP ETF by 10.7% during the third quarter. HighTower Advisors LLC now owns 872,018 shares of the exchange traded fund’s stock worth $41,091,000 after buying an additional 83,961 shares during the period. Hilton Capital Management LLC purchased a new stake in shares of Alerian MLP ETF during the third quarter valued at $31,562,000. Finally, EP Wealth Advisors LLC increased its position in shares of Alerian MLP ETF by 10,423.5% in the 3rd quarter. EP Wealth Advisors LLC now owns 511,442 shares of the exchange traded fund’s stock valued at $24,104,000 after acquiring an additional 506,582 shares during the period.

Alerian MLP ETF Stock Performance

Shares of AMLP opened at $51.29 on Friday. The stock has a 50-day moving average of $50.70 and a two-hundred day moving average of $48.67. The stock has a market cap of $10.56 billion, a P/E ratio of 14.01 and a beta of 1.38. Alerian MLP ETF has a one year low of $44.21 and a one year high of $53.24.

Alerian MLP ETF Increases Dividend

The company also recently announced a dividend, which was paid on Tuesday, February 18th. Investors of record on Wednesday, February 12th were issued a dividend of $0.97 per share. This is an increase from Alerian MLP ETF’s previous dividend of $0.94. The ex-dividend date was Wednesday, February 12th.

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.