Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sets New 1-Year High – Still a Buy?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s share price hit a new 52-week high on Tuesday . The company traded as high as $35.10 and last traded at $35.10, with a volume of 802 shares changing hands. The stock had previously closed at $34.96.

Tortoise North American Pipeline Fund Stock Down 0.7 %

The company has a market cap of $673.76 million, a PE ratio of 18.59 and a beta of 0.50. The company’s fifty day moving average is $32.20 and its 200-day moving average is $30.21.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Several institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its position in Tortoise North American Pipeline Fund by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock worth $3,554,000 after buying an additional 5,760 shares in the last quarter. Foster & Motley Inc. grew its stake in shares of Tortoise North American Pipeline Fund by 0.3% during the 3rd quarter. Foster & Motley Inc. now owns 709,480 shares of the company’s stock valued at $22,263,000 after acquiring an additional 2,013 shares during the period. Battery Global Advisors LLC purchased a new stake in Tortoise North American Pipeline Fund in the 2nd quarter worth approximately $1,972,000. Finally, Brown Brothers Harriman & Co. bought a new stake in Tortoise North American Pipeline Fund during the 2nd quarter worth approximately $155,000.

About Tortoise North American Pipeline Fund

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.