5 Best High Dividend Stocks Under $50

2. Magellan Midstream Partners, L.P. (NYSE:MMP)

Number of Hedge Fund Holders: 13
Dividend Yield: 8.63%
Share Price as of October 14: $47.91

Magellan Midstream Partners, L.P. (NYSE:MMP) ranks second on our list of the best high dividend stocks under $50. This publicly traded partnership has a track record of 11 years of dividend growth. Currently, Magellan Midstream Partners, L.P. (NYSE:MMP) pays an annual dividend of $4.11 per share, yielding 8.63%.

683 Capital Partners is the largest shareholder of Magellan Midstream Partners, L.P. (NYSE:MMP), with shares worth $50.9 million. Overall, 13 hedge funds tracked by Insider Monkey reported having stakes in the company in Q2, compared with 14 in the previous quarter. The total value of these stakes is $89 million.