Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Hits New 1-Year High – Here’s What Happened

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) reached a new 52-week high during trading on Friday . The stock traded as high as $43.64 and last traded at $43.4780, with a volume of 7124 shares trading hands. The stock had previously closed at $43.37.

Tortoise North American Pipeline Fund Stock Performance

The stock has a market cap of $894.66 million, a PE ratio of 18.76 and a beta of 0.58. The company’s 50-day moving average price is $42.10 and its 200 day moving average price is $38.55.

Tortoise North American Pipeline Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 26th were issued a $0.3407 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.36 annualized dividend and a yield of 3.1%. This is a positive change from Tortoise North American Pipeline Fund’s previous quarterly dividend of $0.34.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bollard Group LLC increased its holdings in Tortoise North American Pipeline Fund by 1.7% in the 1st quarter. Bollard Group LLC now owns 70,058 shares of the company’s stock worth $2,968,000 after acquiring an additional 1,197 shares in the last quarter. Cetera Investment Advisers increased its holdings in Tortoise North American Pipeline Fund by 5.6% in the 1st quarter. Cetera Investment Advisers now owns 17,513 shares of the company’s stock worth $742,000 after acquiring an additional 932 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. increased its holdings in Tortoise North American Pipeline Fund by 4.1% in the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 100,229 shares of the company’s stock worth $4,246,000 after acquiring an additional 3,936 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Tortoise North American Pipeline Fund by 148.4% in the 1st quarter. Bank of New York Mellon Corp now owns 26,936 shares of the company’s stock worth $1,141,000 after acquiring an additional 16,094 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its holdings in Tortoise North American Pipeline Fund by 0.9% in the 1st quarter. Sanctuary Advisors LLC now owns 70,255 shares of the company’s stock worth $2,976,000 after acquiring an additional 616 shares in the last quarter.

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.