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

iPath Select MLP ETN (NYSEARCA:ATMP) shares saw an uptick in trading volume on Tuesday . 55,657 shares changed hands during trading, an increase of 123% from the previous session’s volume of 24,917 shares.The stock last traded at $35.05 and had previously closed at $34.43.

iPath Select MLP ETN Stock Up 2.3%

The stock has a fifty day moving average of $34.79 and a 200-day moving average of $32.98.

iPath Select MLP ETN Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Investors of record on Friday, May 29th were given a $0.4088 dividend. This is a positive change from iPath Select MLP ETN’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, May 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.6%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new position in iPath Select MLP ETN (NYSEARCA:ATMP) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 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.