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

iPath Select MLP ETN (NYSEARCA:ATMP) saw unusually-strong trading volume on Monday . Approximately 31,803 shares were traded during trading, an increase of 12% from the previous session’s volume of 28,314 shares.The stock last traded at $28.7740 and had previously closed at $28.80.

iPath Select MLP ETN Stock Up 0.5%

The stock’s 50 day moving average price is $28.50 and its 200-day moving average price is $28.66.

iPath Select MLP ETN Increases Dividend

The firm also recently declared 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. 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. This represents a $1.59 annualized dividend and a yield of 5.5%.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought 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 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.