iPath Select MLP ETN (NYSEARCA:ATMP) Sees Large Volume Increase – Time to Buy?

iPath Select MLP ETN (NYSEARCA:ATMP) shares saw unusually-high trading volume on Tuesday . 55,657 shares changed hands during trading, an increase of 123% from the previous session’s volume of 24,917 shares.The stock last traded at $35.05 and had previously closed at $34.43.

iPath Select MLP ETN Price Performance

The firm has a 50 day moving average of $34.79 and a 200-day moving average of $32.98.

iPath Select MLP ETN Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a $0.4088 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.6%. This is a positive change from iPath Select MLP ETN’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, May 29th.

Institutional Inflows and Outflows

An institutional investor 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 the company in its most recent Form 13F filing with the SEC. The firm 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.