iPath Select MLP ETN (NYSEARCA:ATMP) Hits New 12-Month High – Still a Buy?

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

iPath Select MLP ETN Stock Performance

The stock has a 50 day simple moving average of $30.23 and a two-hundred day simple moving average of $29.12.

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 given a dividend of $0.3929 per share. This represents a $1.57 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, March 2nd.

Institutional Investors 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 stake in shares of iPath Select MLP ETN (NYSEARCA:ATMP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,900 shares of the company’s stock, valued at approximately $114,000.

About iPath Select MLP ETN

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.