iPath Select MLP ETN (NYSEARCA:ATMP) Sets New 1-Year High – What’s Next?

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

iPath Select MLP ETN Stock Up 0.9%

The stock has a 50 day moving average of $29.45 and a 200 day moving average of $28.87.

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 $0.3981 dividend. This is a positive change from iPath Select MLP ETN’s previous quarterly dividend of $0.38. The ex-dividend date was Monday, December 1st. This represents a $1.59 dividend on an annualized basis and a dividend yield of 5.0%.

Hedge Funds Weigh In On iPath Select MLP ETN

An institutional investor recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.