Tortoise Pipeline & Energy Fund (NYSE:TTP) Share Price Passes Above Two Hundred Day Moving Average of $28.77

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.77 and traded as high as $30.57. Tortoise Pipeline & Energy Fund shares last traded at $30.45, with a volume of 6,741 shares.

Tortoise Pipeline & Energy Fund Trading Up 0.5 %

The company has a 50-day moving average price of $30.25 and a two-hundred day moving average price of $28.77.

Tortoise Pipeline & Energy Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 7.75%. The ex-dividend date of this dividend was Wednesday, February 21st.

Hedge Funds Weigh In On Tortoise Pipeline & Energy Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in TTP. Saba Capital Management L.P. lifted its stake in shares of Tortoise Pipeline & Energy Fund by 1.3% during the 3rd quarter. Saba Capital Management L.P. now owns 169,084 shares of the investment management company’s stock worth $4,736,000 after purchasing an additional 2,248 shares during the last quarter. Cannell Capital LLC lifted its stake in shares of Tortoise Pipeline & Energy Fund by 19.9% during the 1st quarter. Cannell Capital LLC now owns 44,900 shares of the investment management company’s stock worth $1,316,000 after purchasing an additional 7,461 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Tortoise Pipeline & Energy Fund by 4.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 37,202 shares of the investment management company’s stock worth $1,046,000 after purchasing an additional 1,625 shares during the last quarter. Wolverine Asset Management LLC lifted its stake in shares of Tortoise Pipeline & Energy Fund by 78.3% during the 4th quarter. Wolverine Asset Management LLC now owns 26,392 shares of the investment management company’s stock worth $742,000 after purchasing an additional 11,591 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Tortoise Pipeline & Energy Fund during the 4th quarter worth $512,000.

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.