Tortoise North American Pipeline Fund (NYSE:TPYP) Stock Price Up 0.7% – Here’s What Happened

Tortoise North American Pipeline Fund (NYSE:TPYP) rose 0.7% during mid-day trading on Monday. The company traded as high as $41.16 and last traded at $40.9140. Approximately 65,876 shares changed hands during trading, a decline of 16% from the average daily volume of 78,660 shares. The stock had previously closed at $40.63.

Tortoise North American Pipeline Fund Stock Performance

The stock has a market cap of $845.69 million, a PE ratio of 18.76 and a beta of 0.58. The company’s 50-day moving average price is $42.41 and its 200 day moving average price is $42.45.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. lifted its stake in shares of Tortoise North American Pipeline Fund by 0.5% in the 2nd quarter. Atwood & Palmer Inc. now owns 670,333 shares of the company’s stock valued at $28,107,000 after purchasing an additional 3,192 shares during the last quarter. Foster & Motley Inc. acquired a new stake in shares of Tortoise North American Pipeline Fund during the 2nd quarter worth about $27,078,000. Parkside Financial Bank & Trust increased its position in shares of Tortoise North American Pipeline Fund by 1.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 288,602 shares of the company’s stock worth $12,101,000 after purchasing an additional 2,797 shares during the last quarter. Royal Bank of Canada increased its position in shares of Tortoise North American Pipeline Fund by 16.6% during the 1st quarter. Royal Bank of Canada now owns 113,017 shares of the company’s stock worth $4,788,000 after purchasing an additional 16,090 shares during the last quarter. Finally, FAS Wealth Partners Inc. raised its holdings in Tortoise North American Pipeline Fund by 1.6% in the 1st quarter. FAS Wealth Partners Inc. now owns 110,724 shares of the company’s stock valued at $4,690,000 after buying an additional 1,698 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.