iPath Select MLP ETN (NYSEARCA:ATMP) Reaches New 52-Week High – Should You Buy?

iPath Select MLP ETN (NYSEARCA:ATMP) shares reached a new 52-week high on Thursday . The company traded as high as $36.86 and last traded at $36.86, with a volume of 4360 shares traded. The stock had previously closed at $36.53.

iPath Select MLP ETN Stock Performance

The firm’s 50 day moving average is $35.08 and its 200-day moving average is $33.58.

iPath Select MLP ETN Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were issued a dividend of $0.4088 per share. The ex-dividend date was Friday, May 29th. This represents a $1.64 annualized dividend and a dividend yield of 4.5%. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.39.

Institutional Investors Weigh In On iPath Select MLP ETN

A hedge fund recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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.