Powell Investment Advisors LLC Acquires 1,765 Shares of Alerian MLP ETF (NYSEARCA:AMLP)

Powell Investment Advisors LLC grew its stake in shares of Alerian MLP ETF (NYSEARCA:AMLP) by 7.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,998 shares of the exchange traded fund’s stock after buying an additional 1,765 shares during the quarter. Alerian MLP ETF makes up 0.6% of Powell Investment Advisors LLC’s holdings, making the stock its 25th biggest holding. Powell Investment Advisors LLC’s holdings in Alerian MLP ETF were worth $1,139,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Main Street Financial Solutions LLC lifted its holdings in shares of Alerian MLP ETF by 2.9% during the fourth quarter. Main Street Financial Solutions LLC now owns 47,714 shares of the exchange traded fund’s stock worth $2,029,000 after purchasing an additional 1,353 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of Alerian MLP ETF during the fourth quarter worth $51,416,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Alerian MLP ETF by 1.5% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 56,522 shares of the exchange traded fund’s stock worth $2,403,000 after purchasing an additional 824 shares during the period. Mckinley Capital Management LLC lifted its holdings in shares of Alerian MLP ETF by 3.0% during the fourth quarter. Mckinley Capital Management LLC now owns 158,700 shares of the exchange traded fund’s stock worth $6,748,000 after purchasing an additional 4,631 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of Alerian MLP ETF by 5.1% during the fourth quarter. Raymond James & Associates now owns 1,305,809 shares of the exchange traded fund’s stock worth $55,523,000 after purchasing an additional 63,053 shares during the period.

Alerian MLP ETF Trading Up 0.6 %

AMLP stock traded up $0.28 during midday trading on Friday, hitting $47.98. The stock had a trading volume of 1,377,161 shares, compared to its average volume of 1,248,556. The firm has a market cap of $8.63 billion, a P/E ratio of 13.08 and a beta of 0.48. Alerian MLP ETF has a 1-year low of $38.81 and a 1-year high of $48.48. The business has a fifty day moving average price of $46.58 and a two-hundred day moving average price of $45.41.

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.