Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Shares Up 1% – Here’s Why

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shares shot up 1% on Wednesday . The company traded as high as $35.58 and last traded at $35.46. 14,625 shares traded hands during trading, a decline of 75% from the average session volume of 59,255 shares. The stock had previously closed at $35.11.

Tortoise North American Pipeline Fund Price Performance

The firm has a market capitalization of $703.88 million, a P/E ratio of 18.76 and a beta of 1.09. The stock’s 50 day moving average is $35.25 and its two-hundred day moving average is $35.23.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC boosted its holdings in Tortoise North American Pipeline Fund by 89.6% during the first quarter. Princeton Global Asset Management LLC now owns 1,005 shares of the company’s stock worth $37,000 after buying an additional 475 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in Tortoise North American Pipeline Fund by 6.3% during the second quarter. Baird Financial Group Inc. now owns 8,258 shares of the company’s stock worth $295,000 after buying an additional 488 shares during the last quarter. Quad Cities Investment Group LLC boosted its holdings in Tortoise North American Pipeline Fund by 0.5% during the second quarter. Quad Cities Investment Group LLC now owns 97,777 shares of the company’s stock worth $3,494,000 after buying an additional 521 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Tortoise North American Pipeline Fund by 1.8% during the second quarter. Capital Advisors Ltd. LLC now owns 32,755 shares of the company’s stock worth $1,170,000 after buying an additional 571 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC boosted its holdings in Tortoise North American Pipeline Fund by 0.3% during the second quarter. Castlekeep Investment Advisors LLC now owns 187,317 shares of the company’s stock worth $6,693,000 after buying an additional 571 shares during the last quarter.

Tortoise North American Pipeline Fund Company Profile

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.