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

iPath Select MLP ETN (NYSEARCA:ATMP) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.79 and last traded at $31.78, with a volume of 31117 shares. The stock had previously closed at $31.50.

iPath Select MLP ETN Stock Up 0.9%

The stock’s 50 day moving average is $29.45 and its 200 day moving average is $28.87.

iPath Select MLP ETN Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, December 1st were given a dividend of $0.3981 per share. This represents a $1.59 annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, December 1st. This is a positive change from iPath Select MLP ETN’s previous quarterly dividend of $0.38.

Institutional Trading of iPath Select MLP ETN

A hedge fund recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new stake in iPath Select MLP ETN (NYSEARCA:ATMP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. 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.