Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sets New 1-Year High – Still a Buy?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) hit a new 52-week high on Tuesday . The company traded as high as $42.55 and last traded at $42.4670, with a volume of 12876 shares traded. The stock had previously closed at $42.16.

Tortoise North American Pipeline Fund Stock Performance

The stock’s 50-day moving average is $38.91 and its 200 day moving average is $36.69. The firm has a market cap of $841.31 million, a P/E ratio of 18.76 and a beta of 0.73.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPYP. Keudell Morrison Wealth Management acquired a new position in shares of Tortoise North American Pipeline Fund during the 4th quarter worth approximately $10,911,000. Morgan Stanley raised its position in Tortoise North American Pipeline Fund by 9.8% during the fourth quarter. Morgan Stanley now owns 3,391,404 shares of the company’s stock worth $119,696,000 after acquiring an additional 301,857 shares in the last quarter. Bank of America Corp DE lifted its stake in Tortoise North American Pipeline Fund by 15.8% in the third quarter. Bank of America Corp DE now owns 1,017,255 shares of the company’s stock valued at $37,079,000 after acquiring an additional 138,577 shares during the last quarter. First National Bank of Omaha bought a new position in shares of Tortoise North American Pipeline Fund in the 4th quarter valued at about $3,567,000. Finally, Blueline Advisors LLC acquired a new position in shares of Tortoise North American Pipeline Fund during the 4th quarter worth about $3,413,000.

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.