iPath Select MLP ETN (NYSEARCA:ATMP) Reaches New 1-Year High – Here’s Why

iPath Select MLP ETN (NYSEARCA:ATMP) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $35.23 and last traded at $34.97, with a volume of 10743 shares traded. The stock had previously closed at $34.59.

iPath Select MLP ETN Stock Performance

The firm’s 50 day simple moving average is $32.43 and its 200 day simple moving average is $29.87.

iPath Select MLP ETN Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, March 2nd were issued a dividend of $0.3929 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Investors Weigh In On iPath Select MLP ETN

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