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

iPath Select MLP ETN (NYSEARCA:ATMP)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $33.74 and last traded at $33.44, with a volume of 4485 shares. The stock had previously closed at $33.45.

iPath Select MLP ETN Trading Down 0.0%

The company’s fifty day simple moving average is $30.23 and its 200-day simple moving average is $29.12.

iPath Select MLP ETN Cuts Dividend

The business also recently declared 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 4.7%.

Institutional Investors 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 stake in shares of iPath Select MLP ETN (NYSEARCA:ATMP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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.