iPath Select MLP ETN (NYSEARCA:ATMP) Reaches New 1-Year High – Time to Buy?

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) reached a new 52-week high during trading on Tuesday . The company traded as high as $33.74 and last traded at $33.44, with a volume of 4485 shares traded. The stock had previously closed at $33.45.

iPath Select MLP ETN Stock Performance

The business’s 50 day moving average price is $30.43 and its 200-day moving average price is $29.18.

iPath Select MLP ETN Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, March 2nd will be paid a $0.3929 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, March 2nd.

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. bought a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 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.