Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Shares Up 0.5%

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shot up 0.5% during trading on Wednesday . The stock traded as high as $27.93 and last traded at $27.89. 24,828 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 106,090 shares. The stock had previously closed at $27.74.

Tortoise North American Pipeline Fund Trading Up 0.5 %

The company has a 50 day moving average of $27.20 and a 200 day moving average of $26.14. The firm has a market cap of $485.29 million, a price-to-earnings ratio of 18.07 and a beta of 0.53.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of institutional investors and hedge funds have recently bought and sold shares of TPYP. Sandy Spring Bank boosted its stake in Tortoise North American Pipeline Fund by 3.2% in the third quarter. Sandy Spring Bank now owns 37,576 shares of the company’s stock worth $919,000 after purchasing an additional 1,155 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in Tortoise North American Pipeline Fund in the fourth quarter worth $2,084,000. Icon Wealth Advisors LLC acquired a new position in Tortoise North American Pipeline Fund in the fourth quarter worth $4,111,000. Finally, Edmonds Duncan Registered Investment Advisors LLC boosted its stake in Tortoise North American Pipeline Fund by 2.2% in the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 241,363 shares of the company’s stock worth $6,749,000 after purchasing an additional 5,106 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.