iPath Select MLP ETN (NYSEARCA:ATMP) Reaches New 1-Year High – Here’s Why

iPath Select MLP ETN (NYSEARCA:ATMP)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $34.47 and last traded at $34.4760, with a volume of 350 shares trading hands. The stock had previously closed at $33.90.

iPath Select MLP ETN Stock Performance

The firm has a 50-day moving average price of $31.99 and a 200-day moving average price of $29.70.

iPath Select MLP ETN Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, March 2nd were issued a dividend of $0.3929 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, March 2nd.

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. acquired a new stake in iPath Select MLP ETN (NYSEARCA:ATMP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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.