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

iPath Select MLP ETN (NYSEARCA:ATMP) shares saw unusually-strong trading volume on Thursday . Approximately 36,838 shares changed hands during mid-day trading, an increase of 57% from the previous session’s volume of 23,410 shares.The stock last traded at $30.1090 and had previously closed at $29.88.

iPath Select MLP ETN Stock Performance

The stock’s 50 day simple moving average is $28.96 and its 200-day simple moving average is $28.70.

iPath Select MLP ETN Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Investors of record on Monday, December 1st were paid 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 yield of 5.3%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought a new stake in iPath Select MLP ETN (NYSEARCA:ATMP) in the 2nd quarter, according to its most recent filing with the SEC. The fund 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.