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

iPath Select MLP ETN (NYSEARCA:ATMP) shares saw unusually-high trading volume on Wednesday . Approximately 22,142 shares were traded 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 Up 0.1%

The stock has a 50 day moving average of $31.58 and a two-hundred day moving average of $29.56.

iPath Select MLP ETN Cuts Dividend

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

Hedge Funds Weigh In On iPath Select MLP ETN

A hedge fund recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 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.