iPath Select MLP ETN (NYSEARCA:ATMP) Sets New 1-Year High – Still a Buy?

iPath Select MLP ETN (NYSEARCA:ATMPGet Free Report) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $31.23 and last traded at $31.19, with a volume of 48621 shares traded. The stock had previously closed at $31.14.

iPath Select MLP ETN Price Performance

The firm has a 50 day moving average price of $29.25 and a two-hundred day moving average price of $28.79.

iPath Select MLP ETN Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, December 1st were given 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 dividend on an annualized basis and a dividend yield of 5.1%.

Hedge Funds Weigh In On iPath Select MLP ETN

An institutional investor recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought a new stake in iPath Select MLP ETN (NYSEARCA:ATMPFree Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,900 shares of the company’s stock, valued at approximately $114,000.

About iPath Select MLP ETN

(Get Free Report)

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.

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