iPath Select MLP ETN (NYSEARCA:ATMP) Sets New 12-Month High – What’s Next?

iPath Select MLP ETN (NYSEARCA:ATMP)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $34.47 and last traded at $34.4760, with a volume of 350 shares. The stock had previously closed at $33.90.

iPath Select MLP ETN Stock Up 1.7%

The firm has a fifty day simple moving average of $31.99 and a two-hundred day simple moving average of $29.70.

iPath Select MLP ETN Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, March 2nd were paid a $0.3929 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend 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. purchased a new position in iPath Select MLP ETN (NYSEARCA:ATMP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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.