iPath Select MLP ETN (NYSEARCA:ATMP) Sees Unusually-High Trading Volume – Should You Buy?

iPath Select MLP ETN (NYSEARCA:ATMP) shares saw unusually-high trading volume on Tuesday . Approximately 55,657 shares were traded 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 Stock Performance

The business’s 50-day simple moving average is $34.87 and its two-hundred day simple moving average is $33.08.

iPath Select MLP ETN Increases Dividend

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

Hedge Funds Weigh In On iPath Select MLP ETN

An institutional investor recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. acquired a new stake in iPath Select MLP ETN (NYSEARCA:ATMP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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.