Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sets New 12-Month High – Here’s Why

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) hit a new 52-week high during trading on Monday . The stock traded as high as $38.40 and last traded at $37.6250, with a volume of 48111 shares traded. The stock had previously closed at $37.87.

Tortoise North American Pipeline Fund Stock Down 0.9%

The stock has a 50 day simple moving average of $35.76 and a 200 day simple moving average of $35.53. The company has a market cap of $743.66 million, a price-to-earnings ratio of 18.76 and a beta of 0.73.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its position in shares of Tortoise North American Pipeline Fund by 16,369.0% during the first quarter. NewEdge Advisors LLC now owns 16,469 shares of the company’s stock worth $599,000 after purchasing an additional 16,369 shares during the period. Keudell Morrison Wealth Management lifted its stake in shares of Tortoise North American Pipeline Fund by 4.5% in the 2nd quarter. Keudell Morrison Wealth Management now owns 279,374 shares of the company’s stock valued at $9,982,000 after purchasing an additional 11,984 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in shares of Tortoise North American Pipeline Fund by 7.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 10,429 shares of the company’s stock valued at $373,000 after acquiring an additional 679 shares during the last quarter. Traphagen Investment Advisors LLC grew its stake in shares of Tortoise North American Pipeline Fund by 0.8% in the second quarter. Traphagen Investment Advisors LLC now owns 697,588 shares of the company’s stock worth $24,925,000 after acquiring an additional 5,417 shares during the last quarter. Finally, Capital Advisors Ltd. LLC grew its position in Tortoise North American Pipeline Fund by 1.8% during the second quarter. Capital Advisors Ltd. LLC now owns 32,755 shares of the company’s stock worth $1,170,000 after buying an additional 571 shares in the last quarter.

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.