iPath Select MLP ETN (NYSEARCA:ATMP) Trading Down 0.2% – What’s Next?

iPath Select MLP ETN (NYSEARCA:ATMP)’s share price dropped 0.2% on Thursday . The company traded as low as $36.34 and last traded at $36.34. Approximately 3,089 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 22,783 shares. The stock had previously closed at $36.42.

iPath Select MLP ETN Stock Down 0.2%

The business’s 50 day moving average is $35.24 and its 200-day moving average is $34.33.

iPath Select MLP ETN Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were issued a dividend of $0.4088 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.5%. This is a positive change from iPath Select MLP ETN’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, May 29th.

Hedge Funds Weigh In On iPath Select MLP ETN

An institutional investor recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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.