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

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) hit a new 52-week high on Tuesday . The company traded as high as $37.27 and last traded at $37.27, with a volume of 217 shares changing hands. The stock had previously closed at $36.87.

iPath Select MLP ETN Stock Performance

The firm has a 50 day moving average price of $35.43 and a 200-day moving average price of $34.51.

iPath Select MLP ETN Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were issued a dividend of $0.4088 per share. This is an increase 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 annualized dividend and a yield of 4.4%.

Institutional Trading of iPath Select MLP ETN

A hedge fund recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. purchased a new stake in iPath Select MLP ETN (NYSEARCA:ATMP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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.