Palouse Capital Management Inc. Trims Stock Position in Alerian MLP ETF (NYSEARCA:AMLP)

Palouse Capital Management Inc. trimmed its position in Alerian MLP ETF (NYSEARCA:AMLP) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,866 shares of the exchange traded fund’s stock after selling 420 shares during the quarter. Palouse Capital Management Inc.’s holdings in Alerian MLP ETF were worth $1,913,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Alerian MLP ETF during the 1st quarter worth about $27,000. Asset Dedication LLC raised its stake in shares of Alerian MLP ETF by 1,244.0% in the 2nd quarter. Asset Dedication LLC now owns 672 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 622 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Alerian MLP ETF in the 4th quarter valued at approximately $38,000. Strategic Financial Concepts LLC acquired a new position in shares of Alerian MLP ETF in the 2nd quarter worth approximately $49,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Alerian MLP ETF during the 2nd quarter worth approximately $52,000.

Alerian MLP ETF Stock Performance

Alerian MLP ETF stock opened at $47.35 on Thursday. The firm has a 50 day moving average price of $47.20 and a 200 day moving average price of $46.97. Alerian MLP ETF has a fifty-two week low of $40.03 and a fifty-two week high of $49.44. The company has a market capitalization of $8.52 billion, a PE ratio of 13.08 and a beta of 0.48.

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.