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MLP ETN (AMJ) Hits New 52-Week High

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Investors seeking momentum may have JPMorgan Alerian MLP Index ETN (AMJ - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of AMJ are up approximately 21.3% from their 52-week low of $20.71/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

AMJ In Focus

The Alerian MLP Index is a cap-weighted, float-adjusted index created to provide a complete benchmark for investors to track the energy MLP sector. The fund charges 85 bps in fees.

Why The Move?

Oil prices have been rising lately due to the Middle-East tensions. This, in turn, has boosted the demand for MLP ETFs and ETNs too. This is because the segment is high-yielding in nature. Plus, the oil rally has given a scope to the segment to offer capital gains too.

More Gains Ahead?

The fund has a positive weighted alpha of 16.10. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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