iPath Select MLP ETN (NYSEARCA:ATMP) Sets New 1-Year High – Still a Buy?

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $35.75 and last traded at $35.7290, with a volume of 6598 shares changing hands. The stock had previously closed at $35.31.

iPath Select MLP ETN Trading Up 0.6%

The business’s fifty day simple moving average is $34.21 and its 200 day simple moving average is $31.37.

iPath Select MLP ETN Cuts Dividend

The business also recently disclosed 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. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Trading of iPath Select MLP ETN

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

iPath Select MLP ETN Company Profile

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.