Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Strong Trading Volume – Here’s Why

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw unusually-strong trading volume on Friday . Approximately 91,704 shares changed hands during trading, an increase of 70% from the previous session’s volume of 54,058 shares.The stock last traded at $38.7550 and had previously closed at $38.27.

Tortoise North American Pipeline Fund Price Performance

The stock’s fifty day simple moving average is $36.01 and its 200-day simple moving average is $35.63. The company has a market capitalization of $771.08 million, a P/E ratio of 18.76 and a beta of 0.73.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Large investors have recently bought and sold shares of the stock. Flagship Harbor Advisors LLC acquired a new position in Tortoise North American Pipeline Fund in the 4th quarter valued at approximately $53,000. Bessemer Group Inc. bought a new position in shares of Tortoise North American Pipeline Fund in the second quarter valued at approximately $65,000. CENTRAL TRUST Co raised its position in Tortoise North American Pipeline Fund by 388.5% in the 2nd quarter. CENTRAL TRUST Co now owns 2,931 shares of the company’s stock valued at $105,000 after purchasing an additional 2,331 shares during the last quarter. Private Trust Co. NA bought a new position in shares of Tortoise North American Pipeline Fund in the third quarter valued at about $168,000. Finally, Advisory Services Network LLC bought a new position in shares of Tortoise North American Pipeline Fund in the third quarter worth about $174,000.

About Tortoise North American Pipeline Fund

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.