iPath Select MLP ETN (NYSEARCA:ATMP) Hits New 1-Year High – Should You Buy?

iPath Select MLP ETN (NYSEARCA:ATMP)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $36.86 and last traded at $36.86, with a volume of 4360 shares trading hands. The stock had previously closed at $36.53.

iPath Select MLP ETN Stock Performance

The firm has a fifty day simple moving average of $35.12 and a two-hundred day simple moving average of $33.66.

iPath Select MLP ETN Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Friday, May 29th were given a dividend of $0.4088 per share. The ex-dividend date was Friday, May 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.39.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. purchased a new stake in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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.