Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Unusually-High Trading Volume – Here’s What Happened

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shares saw an uptick in trading volume on Friday . 83,708 shares were traded during mid-day trading, an increase of 84% from the previous session’s volume of 45,590 shares.The stock last traded at $35.0350 and had previously closed at $34.91.

Tortoise North American Pipeline Fund Stock Performance

The firm has a market cap of $692.46 million, a price-to-earnings ratio of 18.76 and a beta of 0.73. The business has a 50 day simple moving average of $35.35 and a 200-day simple moving average of $35.39.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its stake in shares of Tortoise North American Pipeline Fund by 16,369.0% in the first quarter. NewEdge Advisors LLC now owns 16,469 shares of the company’s stock worth $599,000 after purchasing an additional 16,369 shares during the last quarter. Nova Wealth Management Inc. lifted its holdings in Tortoise North American Pipeline Fund by 48.9% in the 2nd quarter. Nova Wealth Management Inc. now owns 21,267 shares of the company’s stock worth $760,000 after buying an additional 6,984 shares during the period. Atwood & Palmer Inc. lifted its holdings in Tortoise North American Pipeline Fund by 0.3% in the 2nd quarter. Atwood & Palmer Inc. now owns 659,221 shares of the company’s stock worth $23,554,000 after buying an additional 2,225 shares during the period. Stokes Capital Advisors LLC grew its position in shares of Tortoise North American Pipeline Fund by 13.9% in the 2nd quarter. Stokes Capital Advisors LLC now owns 16,547 shares of the company’s stock worth $591,000 after buying an additional 2,013 shares during the last quarter. Finally, Quad Cities Investment Group LLC increased its stake in shares of 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 valued at $3,494,000 after buying an additional 521 shares during the period.

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.