iPath Select MLP ETN (NYSEARCA:ATMP) Hits New 12-Month High – Time to Buy?

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) reached a new 52-week high during trading on Wednesday . The stock traded as high as $33.30 and last traded at $33.1940, with a volume of 3904 shares changing hands. The stock had previously closed at $33.00.

iPath Select MLP ETN Trading Up 0.8%

The firm’s fifty day moving average price is $29.87 and its two-hundred day moving average price is $29.01.

iPath Select MLP ETN Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders of record on Monday, December 1st were issued a $0.3981 dividend. The ex-dividend date was Monday, December 1st. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.38. This represents a $1.59 annualized dividend and a yield of 4.8%.

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. acquired a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.