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

iPath Select MLP ETN (NYSEARCA:ATMP)’s stock price reached a new 52-week high on Monday . The stock traded as high as $34.05 and last traded at $34.1290, with a volume of 3580 shares trading hands. The stock had previously closed at $33.87.

iPath Select MLP ETN Stock Performance

The firm’s fifty day simple moving average is $30.86 and its 200 day simple moving average is $29.32.

iPath Select MLP ETN Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Monday, March 2nd will be paid a $0.3929 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $1.57 dividend on an annualized basis and a yield of 4.6%.

Hedge Funds Weigh In On iPath Select MLP ETN

A hedge fund recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new position in iPath Select MLP ETN (NYSEARCA:ATMP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.