Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sets New 52-Week High – Should You Buy?

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) reached a new 52-week high on Thursday . The company traded as high as $44.58 and last traded at $43.83, with a volume of 72215 shares. The stock had previously closed at $44.38.

Tortoise North American Pipeline Fund Stock Down 1.2%

The firm has a market capitalization of $902.90 million, a price-to-earnings ratio of 18.76 and a beta of 0.58. The business has a 50-day moving average of $42.25 and a two-hundred day moving average of $38.81.

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 given a dividend of $0.3407 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.1%. This is a boost from Tortoise North American Pipeline Fund’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

A number of institutional investors have recently added to or reduced their stakes in TPYP. Kestra Advisory Services LLC acquired a new stake in Tortoise North American Pipeline Fund during the fourth quarter worth about $46,000. Flagship Harbor Advisors LLC acquired a new stake in Tortoise North American Pipeline Fund during the fourth quarter worth about $53,000. Ball & Co Wealth Management Inc. acquired a new stake in Tortoise North American Pipeline Fund during the first quarter valued at approximately $117,000. Advisory Services Network LLC acquired a new stake in Tortoise North American Pipeline Fund during the third quarter valued at approximately $174,000. Finally, Sunbelt Securities Inc. acquired a new stake in Tortoise North American Pipeline Fund during the third quarter valued at approximately $182,000.

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.