iPath Select MLP ETN (NYSEARCA:ATMP) Sees Strong Trading Volume – Time to Buy?

iPath Select MLP ETN (NYSEARCA:ATMP) saw strong trading volume on Thursday . 30,493 shares changed hands during trading, an increase of 16% from the previous session’s volume of 26,255 shares.The stock last traded at $29.6130 and had previously closed at $29.47.

iPath Select MLP ETN Price Performance

The company’s 50 day moving average price is $28.82 and its two-hundred day moving average price is $28.67.

iPath Select MLP ETN Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 9th. Shareholders 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 of this dividend was Monday, December 1st. This represents a $1.59 dividend on an annualized basis and a yield of 5.3%.

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 stake in shares of iPath Select MLP ETN (NYSEARCA:ATMP) in the second quarter, according to its most recent filing with the Securities & 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.