Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Shares Up 1.6% – Still a Buy?

by · The Markets Daily

Tortoise North American Pipeline Fund (NYSEARCA:TPYP – Get Free Report)’s share price rose 1.6% during mid-day trading on Friday . The company traded as high as $43.37 and last traded at $43.33. Approximately 33,269 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 87,646 shares. The stock had previously closed at $42.66.

Tortoise North American Pipeline Fund Stock Up 1.6%

The stock has a market cap of $882.63 million, a price-to-earnings ratio of 18.76 and a beta of 0.55. The company has a 50 day simple moving average of $42.60 and a 200 day simple moving average of $41.90.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of institutional investors have recently added to or reduced their stakes in the stock. Blueline Advisors LLC bought a new position in shares of Tortoise North American Pipeline Fund in the 4th quarter valued at $3,413,000. Castlekeep Investment Advisors LLC boosted its holdings in shares of Tortoise North American Pipeline Fund by 1.2% during the 4th quarter. Castlekeep Investment Advisors LLC now owns 195,234 shares of the company’s stock valued at $6,891,000 after acquiring an additional 2,407 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Tortoise North American Pipeline Fund during the 4th quarter worth $206,000. Keudell Morrison Wealth Management bought a new stake in Tortoise North American Pipeline Fund during the 4th quarter worth $10,911,000. Finally, Global Retirement Partners LLC increased its holdings in Tortoise North American Pipeline Fund by 1.0% in the 4th quarter. Global Retirement Partners LLC now owns 36,284 shares of the company’s stock worth $1,281,000 after purchasing an additional 342 shares in the last quarter.

Tortoise North American Pipeline Fund Company Profile

(Get Free Report)

The Tortoise North American Pipeline Fund (TPYP) is an exchange-traded fund that is based on the Tortoise North American Pipeline index. The fund tracks an index of North American pipeline entities organized as MLPs, MLP affiliates, LLCs, and corporations. TPYP was launched on Jun 30, 2015 and is managed by Tortoise.

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