iPath Select MLP ETN (NYSEARCA:ATMP) Shares Down 1.1% – Here’s Why

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

iPath Select MLP ETN Price Performance

The company’s 50-day moving average is $33.96 and its 200-day moving average is $30.90.

iPath Select MLP ETN Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, March 2nd were given a dividend of $0.3929 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Inflows and Outflows

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