Salem Investment Counselors Inc. Acquires 20,023 Shares of Alerian MLP ETF (NYSEARCA:AMLP)

Salem Investment Counselors Inc. increased its position in Alerian MLP ETF (NYSEARCA:AMLP) by 48.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 60,999 shares of the exchange traded fund’s stock after purchasing an additional 20,023 shares during the period. Salem Investment Counselors Inc.’s holdings in Alerian MLP ETF were worth $2,895,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AMLP. First United Bank & Trust purchased a new stake in shares of Alerian MLP ETF in the fourth quarter worth about $35,000. ICA Group Wealth Management LLC purchased a new stake in shares of Alerian MLP ETF in the fourth quarter worth about $38,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Alerian MLP ETF in the fourth quarter worth about $39,000. Friedenthal Financial purchased a new stake in shares of Alerian MLP ETF in the fourth quarter worth about $54,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of Alerian MLP ETF in the fourth quarter worth about $56,000.

Alerian MLP ETF Trading Up 0.3 %

NYSEARCA:AMLP opened at $46.75 on Monday. Alerian MLP ETF has a 12 month low of $37.84 and a 12 month high of $48.48. The business’s 50-day moving average is $46.44 and its 200 day moving average is $45.30. The company has a market capitalization of $8.41 billion, a P/E ratio of 13.08 and a beta of 0.48.

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.