iPath Select MLP ETN (NYSEARCA:ATMP) Sees Large Volume Increase – Still a Buy?

iPath Select MLP ETN (NYSEARCA:ATMP) shares saw strong trading volume on Tuesday . 19,314 shares were traded during trading, a decline of 31% from the previous session’s volume of 28,010 shares.The stock last traded at $28.6240 and had previously closed at $28.29.

iPath Select MLP ETN Trading Up 0.3%

The firm’s 50-day moving average price is $28.35 and its two-hundred day moving average price is $28.67.

iPath Select MLP ETN Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, December 1st were given a $0.3981 dividend. This represents a $1.59 dividend on an annualized basis and a yield of 5.6%. This is a boost from iPath Select MLP ETN’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, December 1st.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 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.