Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Hits New 1-Year High – Here’s Why

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $37.00 and last traded at $36.69, with a volume of 216 shares. The stock had previously closed at $36.58.

Tortoise North American Pipeline Fund Trading Up 0.9 %

The company has a market cap of $715.86 million, a P/E ratio of 18.59 and a beta of 0.50. The company’s fifty day moving average is $35.09 and its 200 day moving average is $32.44.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Battery Global Advisors LLC purchased a new position in Tortoise North American Pipeline Fund during the 2nd quarter valued at about $1,972,000. Flow Traders U.S. LLC bought a new stake in Tortoise North American Pipeline Fund during the 3rd quarter valued at about $592,000. Janney Montgomery Scott LLC increased its stake in Tortoise North American Pipeline Fund by 5.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock valued at $3,554,000 after purchasing an additional 5,760 shares in the last quarter. Brown Brothers Harriman & Co. bought a new stake in Tortoise North American Pipeline Fund during the 2nd quarter valued at about $155,000. Finally, Captrust Financial Advisors increased its stake in Tortoise North American Pipeline Fund by 10.1% during the 3rd quarter. Captrust Financial Advisors now owns 40,403 shares of the company’s stock valued at $1,268,000 after purchasing an additional 3,695 shares in the last quarter.

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.