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

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) hit a new 52-week high during trading on Wednesday . The company traded as high as $36.78 and last traded at $36.76, with a volume of 11269 shares traded. The stock had previously closed at $36.44.

iPath Select MLP ETN Price Performance

The stock’s 50 day simple moving average is $34.31 and its 200 day simple moving average is $31.51.

iPath Select MLP ETN Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Shareholders of record on Friday, May 29th will be paid a $0.4088 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.64 dividend on an annualized basis and a yield of 4.4%. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.39.

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 position in iPath Select MLP ETN (NYSEARCA:ATMP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 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.