iPath Select MLP ETN (NYSEARCA:ATMP) Sees Large Volume Increase – Still a Buy?

Shares of iPath Select MLP ETN (NYSEARCA:ATMP) saw an uptick in trading volume on Friday . 46,533 shares traded hands during mid-day trading, an increase of 47% from the previous session’s volume of 31,656 shares.The stock last traded at $34.0590 and had previously closed at $34.03.

iPath Select MLP ETN Stock Down 0.3%

The firm has a fifty day moving average of $33.54 and a 200-day moving average of $30.40.

iPath Select MLP ETN Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, March 2nd were given a dividend of $0.3929 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, March 2nd.

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. purchased a new position in shares of iPath Select MLP ETN (NYSEARCA:ATMP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.