Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Reaches New 12-Month High – What’s Next?

by · The Markets Daily

Tortoise North American Pipeline Fund (NYSEARCA:TPYP – Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $32.57 and last traded at $32.55, with a volume of 9441 shares changing hands. The stock had previously closed at $32.28.

Tortoise North American Pipeline Fund Price Performance

The firm has a market capitalization of $631.66 million, a P/E ratio of 18.59 and a beta of 0.50. The firm’s 50 day moving average is $31.06 and its two-hundred day moving average is $29.34.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Hedge funds have recently bought and sold shares of the company. Battery Global Advisors LLC bought a new position in Tortoise North American Pipeline Fund during the second quarter worth $1,972,000. Janney Montgomery Scott LLC lifted its stake in shares of Tortoise North American Pipeline Fund by 34.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 108,328 shares of the company’s stock worth $3,029,000 after buying an additional 27,987 shares during the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of Tortoise North American Pipeline Fund during the 2nd quarter worth about $155,000. Finally, Edmonds Duncan Registered Investment Advisors LLC grew its stake in Tortoise North American Pipeline Fund by 2.2% in the 1st quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 241,363 shares of the company’s stock valued at $6,749,000 after buying an additional 5,106 shares during 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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