Tortoise Pipeline & Energy Fund (NYSE:TTP) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $43.65 and traded as high as $47.70. Tortoise Pipeline & Energy Fund shares last traded at $47.61, with a volume of 4,204 shares.

Tortoise Pipeline & Energy Fund Trading Up 2.0 %

The business’s fifty day moving average is $48.84 and its 200 day moving average is $43.70.

Tortoise Pipeline & Energy Fund Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were given 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 Investors Weigh In On Tortoise Pipeline & Energy Fund

A number of large investors have recently added to or reduced their stakes in the business. Almitas Capital LLC boosted its stake in shares of 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 valued at $4,219,000 after acquiring an additional 867 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 valued at $1,465,000 after purchasing an additional 4,859 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Tortoise Pipeline & Energy Fund by 10.6% in the third quarter. Rockefeller Capital Management L.P. now owns 27,929 shares of the investment management company’s stock valued at $1,179,000 after buying an additional 2,683 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Tortoise Pipeline & Energy Fund by 30.4% during the third quarter. D.A. Davidson & CO. now owns 22,327 shares of the investment management company’s stock valued at $942,000 after buying an additional 5,206 shares during the period. Finally, Bayshore Asset Management LLC acquired a new stake in Tortoise Pipeline & Energy Fund during the third quarter worth approximately $227,000.

About Tortoise Pipeline & Energy Fund

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.