iPath Select MLP ETN (NYSEARCA:ATMP) Sets New 12-Month High – Here’s Why

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) hit a new 52-week high on Tuesday . The stock traded as high as $37.27 and last traded at $37.27, with a volume of 217 shares trading hands. The stock had previously closed at $36.87.

iPath Select MLP ETN Stock Up 1.6%

The stock’s fifty day simple moving average is $35.33 and its 200-day simple moving average is $34.43.

iPath Select MLP ETN Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.4088 dividend. This is a boost from iPath Select MLP ETN’s previous quarterly dividend of $0.39. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, May 29th.

Institutional Trading of iPath Select MLP ETN

An institutional investor recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought a new position in iPath Select MLP ETN (NYSEARCA:ATMP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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.