iPath Select MLP ETN (NYSEARCA:ATMP) Sees Unusually-High Trading Volume – Here’s Why

iPath Select MLP ETN (NYSEARCA:ATMP) saw unusually-high trading volume on Friday . Approximately 46,533 shares changed hands during 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 Performance

The stock has a 50-day moving average of $33.48 and a 200 day moving average of $30.35.

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 given a $0.3929 dividend. The ex-dividend date was Monday, March 2nd. This represents a $1.57 dividend on an annualized basis and a yield of 4.6%.

Institutional Investors Weigh In On iPath Select MLP ETN

A hedge fund recently bought a new stake in iPath Select MLP ETN stock. JPMorgan Chase & Co. bought a new stake in iPath Select MLP ETN (NYSEARCA:ATMP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 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.