iPath Select MLP ETN (NYSEARCA:ATMP) Trading Up 0.5% – Still a Buy?

iPath Select MLP ETN (NYSEARCA:ATMP)’s stock price shot up 0.5% during mid-day trading on Tuesday . The stock traded as high as $28.53 and last traded at $28.53. 5,910 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 29,151 shares. The stock had previously closed at $28.38.

iPath Select MLP ETN Price Performance

The business has a 50 day moving average price of $28.23 and a 200 day moving average price of $28.72.

iPath Select MLP ETN Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Thursday, August 28th were given a $0.3812 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $1.52 annualized dividend and a yield of 5.3%. This is an increase from iPath Select MLP ETN’s previous quarterly dividend of $0.33.

Institutional Investors Weigh In On iPath Select MLP ETN

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in iPath Select MLP ETN during the 2nd quarter valued at $114,000. Focus Partners Advisor Solutions LLC acquired a new stake in iPath Select MLP ETN in the 1st quarter worth $293,000. Cerity Partners LLC increased its holdings in shares of iPath Select MLP ETN by 16.7% during the 1st quarter. Cerity Partners LLC now owns 23,081 shares of the company’s stock worth $708,000 after purchasing an additional 3,300 shares during the period. Blair William & Co. IL raised its position in shares of iPath Select MLP ETN by 101.3% during the first quarter. Blair William & Co. IL now owns 30,943 shares of the company’s stock valued at $949,000 after buying an additional 15,569 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new position in shares of iPath Select MLP ETN during the first quarter valued at about $1,168,000.

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.