- The ALPS Alerian MLP ETF (NYSEARCA:AMLP) slides at the beginning of trading -1.84% as oil reverses its gains and slides down to $74.65 per barrel. WTI crude, which recently has risen to the highest level in more than six years, has now switched gears in the wake of OPEC's failure to agree on a production increase.
- AMLP, the $5.29B AUM fund which focuses on energy infrastructure, is one of the many exchange traded funds that feels the repercussions of Tuesday's move in the oil market.
- AMLP, along with other MLP exchange traded funds, are trading to the downside. Some of those ETFs are as follows: (NYSEARCA:AMJ) -1.56%, (NYSEARCA:EMLP) -0.97% and (NYSEARCA:MLPA) -1.71%.
- See below a one-year chart of AMLP and how it has fared against the S&P 500.
- Additionally, from a year-to-date standpoint, AMLP is +44.08%.
- In other commodity-related news, gold has risen back above $1,800/oz and has hit a three-week high.