Tortoise Pipeline & Energy Fund (NYSE:TTP) Stock Crosses Above 200-Day Moving Average of $28.05

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTPGet Rating)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $28.05 and traded as high as $28.79. Tortoise Pipeline & Energy Fund shares last traded at $28.29, with a volume of 9,196 shares changing hands.

Tortoise Pipeline & Energy Fund Trading Up 0.2 %

The company’s 50-day moving average price is $27.73 and its two-hundred day moving average price is $28.05.

Tortoise Pipeline & Energy Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 23rd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 8.34%. The ex-dividend date of this dividend is Tuesday, November 22nd.

Institutional Trading of Tortoise Pipeline & Energy Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in shares of Tortoise Pipeline & Energy Fund by 8.8% during the 1st quarter. Bank of America Corp DE now owns 11,725 shares of the investment management company’s stock valued at $344,000 after purchasing an additional 950 shares in the last quarter. Royal Bank of Canada raised its holdings in Tortoise Pipeline & Energy Fund by 7.2% in the third quarter. Royal Bank of Canada now owns 16,418 shares of the investment management company’s stock worth $411,000 after buying an additional 1,100 shares during the last quarter. UBS Group AG raised its holdings in Tortoise Pipeline & Energy Fund by 89.3% in the second quarter. UBS Group AG now owns 2,483 shares of the investment management company’s stock worth $62,000 after buying an additional 1,171 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in Tortoise Pipeline & Energy Fund in the second quarter worth about $30,000. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in Tortoise Pipeline & Energy Fund by 10.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,878 shares of the investment management company’s stock worth $320,000 after buying an additional 1,247 shares during the last quarter.

About Tortoise Pipeline & Energy Fund

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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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