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

iPath Select MLP ETN (NYSEARCA:ATMP)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $31.23 and last traded at $31.19, with a volume of 48621 shares. The stock had previously closed at $31.14.

iPath Select MLP ETN Stock Up 0.3%

The firm has a fifty day moving average price of $29.39 and a 200 day moving average price of $28.84.

iPath Select MLP ETN Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, December 1st were paid a $0.3981 dividend. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, December 1st. This represents a $1.59 annualized dividend and a yield of 5.1%.

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 position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the 2nd quarter, according to the company in its most recent filing with the Securities and 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.