Exchange Traded Product Ripe For a Premium?

JPMorgan's Alerian MLP Index ETN (AMJ) has issued its maximum shares, according to a story in Investment News.  As noted in the story, this turns the notes into a closed-end fund.  Now, advisors can expect the note to trade at a premium to NAV, reflecting a very generous yield.  However, that premium could just as easily and quickly disappear when oil and gas related properties fall out of favor.  Or, JPMorgan could just register additional units which would eliminate the premium in one fell swoop, as happened with Credit Suisse VelocityShares Daily 2X VIX Short-Term ETN (TVIX).  An opportunistic advisor would be looking for an alternative to AMJ and establishing a reasonable premium for exit.