iPath Select MLP ETN (NYSEARCA:ATMP) Shares Down 0.7% – Time to Sell?

iPath Select MLP ETN (NYSEARCA:ATMP)’s share price was down 0.7% during trading on Wednesday . The stock traded as low as $33.64 and last traded at $33.71. Approximately 18,364 shares were traded during mid-day trading, a decline of 30% from the average session volume of 26,370 shares. The stock had previously closed at $33.94.

iPath Select MLP ETN Stock Performance

The firm has a fifty day simple moving average of $34.57 and a two-hundred day simple moving average of $32.51.

iPath Select MLP ETN Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Friday, May 29th were paid a dividend of $0.4088 per share. The ex-dividend date was Friday, May 29th. This represents a $1.64 annualized dividend and a yield of 4.8%. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.39.

Institutional Trading of iPath Select MLP ETN

A hedge fund recently bought a new stake 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 its most recent filing with the Securities and Exchange Commission. The fund 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.