Spoke to an Index analyst on APL/ATLS - the former getting added to Allerian MLP index today
APL was up over 6% today as almost 400,000 shares are needed for the re-balance
MORE IMPORTANT - the analyst was surprised that ATLS was not added- as its far more liquid and has far bigger market cap - so its just a matter of time before ATLS is added as well (the fact that Allerian is now familiar with the structure should make this happen sooner than later)
As a rough estimate - OVER ONE MILLION shares of ATLS would be needed for an index add - you can imagine what would happen to the stock if that were the case
Seems like great risk/reward at the $30 level !!!!
Looking at the move in APL over the last few days - as NGL firms...Seems like ATLS should be at least 2 or 3 dollars higher..We may not see it in this distribtion but if NGL is firming, ATLS should start mega -participating due to their IDR