iPath Select MLP ETN (NYSEARCA:ATMP) Reaches New 52-Week High – Still a Buy?

iPath Select MLP ETN (NYSEARCA:ATMPGet Free Report) hit a new 52-week high on Thursday . The stock traded as high as $35.75 and last traded at $35.7290, with a volume of 6598 shares changing hands. The stock had previously closed at $35.31.

iPath Select MLP ETN Stock Up 1.4%

The firm’s fifty day simple moving average is $34.13 and its 200 day simple moving average is $31.27.

iPath Select MLP ETN Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Monday, March 2nd were issued a $0.3929 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, March 2nd.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought a new position in iPath Select MLP ETN (NYSEARCA:ATMPFree Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 3,900 shares of the company’s stock, valued at approximately $114,000.

About iPath Select MLP ETN

(Get Free Report)

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.

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