iPath Select MLP ETN (NYSEARCA:ATMP) Hits New 1-Year High – Should You Buy?

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.79 and last traded at $31.78, with a volume of 31117 shares trading hands. The stock had previously closed at $31.50.

iPath Select MLP ETN Stock Performance

The stock has a 50 day simple moving average of $29.64 and a two-hundred day simple moving average of $28.93.

iPath Select MLP ETN Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Stockholders of record on Monday, December 1st were issued a dividend of $0.3981 per share. The ex-dividend date was Monday, December 1st. This represents a $1.59 dividend on an annualized basis and a dividend yield of 4.9%. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.38.

Institutional Inflows and Outflows

A hedge fund 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) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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.