iPath Select MLP ETN (NYSEARCA:ATMP) Trading Down 1.1% – What’s Next?

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) were down 1.1% during mid-day trading on Friday . The stock traded as low as $34.89 and last traded at $35.02. Approximately 39,564 shares changed hands during trading, an increase of 30% from the average daily volume of 30,337 shares. The stock had previously closed at $35.40.

iPath Select MLP ETN Trading Down 1.1%

The company’s fifty day moving average price is $33.96 and its 200-day moving average price is $30.88.

iPath Select MLP ETN Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, March 2nd were issued a $0.3929 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, March 2nd.

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. acquired a new position in iPath Select MLP ETN (NYSEARCA:ATMP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.