Tortoise Pipeline & Energy Fund (NYSE:TTP) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

by · The Markets Daily

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP – Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.13 and traded as high as $47.70. Tortoise Pipeline & Energy Fund shares last traded at $47.61, with a volume of 4,204 shares changing hands.

Tortoise Pipeline & Energy Fund Stock Performance

The firm has a 50 day simple moving average of $48.06 and a two-hundred day simple moving average of $42.17.

Tortoise Pipeline & Energy Fund Dividend Announcement

The business also recently announced a — dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were paid a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a yield of 4.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Almitas Capital LLC raised its holdings in Tortoise Pipeline & Energy Fund by 0.7% during the second quarter. Almitas Capital LLC now owns 116,622 shares of the investment management company’s stock worth $4,219,000 after purchasing an additional 867 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in Tortoise Pipeline & Energy Fund by 115.6% during the second quarter. Blue Bell Private Wealth Management LLC now owns 2,372 shares of the investment management company’s stock worth $86,000 after acquiring an additional 1,272 shares during the period. Quarry LP acquired a new stake in Tortoise Pipeline & Energy Fund in the 3rd quarter valued at about $110,000. Rockefeller Capital Management L.P. boosted its position in shares of Tortoise Pipeline & Energy Fund by 10.6% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,929 shares of the investment management company’s stock valued at $1,179,000 after purchasing an additional 2,683 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Tortoise Pipeline & Energy Fund by 16.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 34,715 shares of the investment management company’s stock worth $1,465,000 after purchasing an additional 4,859 shares during the last quarter.

About Tortoise Pipeline & Energy Fund

(Get Free Report)

Tortoise Pipeline & Energy Fund, Inc is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors, LLC. It invests in public equity markets of North America. The fund invests in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil, and refined petroleum products.

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