iPath Select MLP ETN (NYSEARCA:ATMP) Sees Unusually-High Trading Volume – Should You Buy?

iPath Select MLP ETN (NYSEARCA:ATMPGet Free Report) shares saw an uptick in trading volume on Wednesday . 22,142 shares changed hands during mid-day trading, a decline of 25% from the previous session’s volume of 29,534 shares.The stock last traded at $33.6520 and had previously closed at $33.49.

iPath Select MLP ETN Stock Performance

The company’s fifty day simple moving average is $31.38 and its two-hundred day simple moving average is $29.50.

iPath Select MLP ETN Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, March 2nd were given a dividend of $0.3929 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.57 annualized dividend and a dividend yield of 4.6%.

Hedge Funds Weigh In On iPath Select MLP ETN

An institutional investor recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. purchased a new stake in shares of iPath Select MLP ETN (NYSEARCA:ATMPFree Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,900 shares of the company’s stock, valued at approximately $114,000.

About iPath Select MLP ETN

(Get Free Report)

The Barclays ETN+ Select MLP ETN (ATMP) is an exchange-traded fund that is based on the CIBC Atlas Select MLP VWAP index. The fund tracks a tiered-weighted index consisting of US and Canadian MLPs and general partners of MLPs that are selected based on fundamental criteria. ATMP was launched on Mar 12, 2013 and is issued by Barclays.

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