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

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

iPath Select MLP ETN Price Performance

The stock has a 50-day moving average price of $35.33 and a 200 day moving average price of $34.43.

iPath Select MLP ETN Increases Dividend

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

Institutional Trading of iPath Select MLP ETN

An institutional investor recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. purchased a new stake in iPath Select MLP ETN (NYSEARCA:ATMP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 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.