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

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

Tortoise North American Pipeline Fund Trading Up 0.1%

The stock has a market cap of $894.66 million, a P/E ratio of 18.76 and a beta of 0.58. The stock’s fifty 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 declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 26th were paid a $0.3407 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, March 26th. This is a positive change from Tortoise North American Pipeline Fund’s previous quarterly dividend of $0.34.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of hedge funds have recently bought and sold shares of the company. Stokes Capital Advisors LLC boosted its stake in Tortoise North American Pipeline Fund by 2.5% in the 1st quarter. Stokes Capital Advisors LLC now owns 12,958 shares of the company’s stock worth $549,000 after purchasing an additional 322 shares in the last quarter. LPL Financial LLC boosted its stake in Tortoise North American Pipeline Fund by 0.3% in the 4th quarter. LPL Financial LLC now owns 110,109 shares of the company’s stock worth $3,886,000 after purchasing an additional 339 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Tortoise North American Pipeline Fund by 1.0% in the 4th quarter. Global Retirement Partners LLC now owns 36,284 shares of the company’s stock worth $1,281,000 after purchasing an additional 342 shares in the last quarter. J.W. Cole Advisors Inc. boosted its stake in Tortoise North American Pipeline Fund by 4.2% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 9,252 shares of the company’s stock worth $337,000 after purchasing an additional 373 shares in the last quarter. Finally, Heritage Oak Wealth Advisors LLC boosted its stake in Tortoise North American Pipeline Fund by 1.3% in the 1st quarter. Heritage Oak Wealth Advisors LLC now owns 32,899 shares of the company’s stock worth $1,394,000 after purchasing an additional 414 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.