The Alerian MLP index -1.2% after tumbling as much as 1.6% intraday, even as E&P, oil services and refining stock indexes are all higher on the day and WTI April crude oil futures edge higher to close at $60.96/bbl.
Morgan Stanley analyst Tom Abrams cites a "quagmire" of near-term trading and structural issues plaguing the Midstream/MLP group, such as "anemic fund flows, rising rate fears, persistent funding needs [and] opaque structural uncertainties within several families."
ETFs: AMLP, AMZA, KYN, AMJ, TYG, YMLP, KYE, JMF, FMO, CEM, CBA, NML, SRV, MLPA, MLPI, FEN, NTG, GER, FEI, KMF, MLPQ, CEN, EMLP, MLPX, EMO, FPL, MIE, GMZ, DSE, MLPG, TTP, SRF, CTR, MLPN, SMM, JMLP, ZMLP, MLPY, MLPS, AMU, ENFR, YMLI, ATMP, AMJL, MLPZ, IMLP, MLPC
Source: Bloomberg First Word
Now read: Who Stole My Alpha - Part 2 »
Subscribe for full text news in your inbox