iPath Select MLP ETN (NYSEARCA:ATMP) Trading Down 1.1% – What’s Next?

iPath Select MLP ETN (NYSEARCA:ATMP) was down 1.1% during mid-day trading on Friday . The stock traded as low as $34.89 and last traded at $35.02. Approximately 39,564 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 30,337 shares. The stock had previously closed at $35.40.

iPath Select MLP ETN Stock Down 1.1%

The company has a 50 day moving average of $33.96 and a 200-day moving average of $30.88.

iPath Select MLP ETN Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $1.57 annualized dividend and a dividend yield of 4.5%.

Institutional Trading of iPath Select MLP ETN

An institutional investor recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new stake in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the 2nd quarter, according to its most recent disclosure 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.