Tortoise North American Pipeline Fund (NYSE:TPYP) Stock Short Interest Declines 86.7%

Tortoise North American Pipeline Fund (NYSE:TPYP) was the recipient of a large drop in short interest in October. As of October 30th, there was short interest totaling 44,864 shares, a drop of 86.7% from the October 15th total of 336,312 shares. Based on an average trading volume of 26,454 shares, the short-interest ratio is presently 1.7 days. Approximately 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stokes Capital Advisors LLC lifted its position in Tortoise North American Pipeline Fund by 28.7% during the 3rd quarter. Stokes Capital Advisors LLC now owns 16,233 shares of the company’s stock valued at $647,000 after acquiring an additional 3,617 shares during the period. GK Wealth Management LLC purchased a new stake in Tortoise North American Pipeline Fund in the third quarter worth about $30,000. Eagle Strategies LLC grew its holdings in Tortoise North American Pipeline Fund by 11.4% in the third quarter. Eagle Strategies LLC now owns 195,309 shares of the company’s stock worth $7,786,000 after purchasing an additional 20,000 shares during the period. Arvest Investments Inc. grew its holdings in Tortoise North American Pipeline Fund by 5.7% in the third quarter. Arvest Investments Inc. now owns 365,434 shares of the company’s stock worth $14,568,000 after purchasing an additional 19,688 shares during the period. Finally, Magnus Financial Group LLC increased its stake in shares of Tortoise North American Pipeline Fund by 1.6% during the third quarter. Magnus Financial Group LLC now owns 876,917 shares of the company’s stock valued at $34,958,000 after purchasing an additional 13,421 shares in the last quarter.

Tortoise North American Pipeline Fund Stock Up 0.7%

Shares of Tortoise North American Pipeline Fund stock traded up $0.30 during trading on Wednesday, reaching $42.10. The company’s stock had a trading volume of 5,723 shares, compared to its average volume of 73,073. The company has a market cap of $883.78 million, a price-to-earnings ratio of 18.03 and a beta of 0.56. The firm’s 50-day moving average is $42.10 and its two-hundred day moving average is $41.99. Tortoise North American Pipeline Fund has a 52-week low of $34.56 and a 52-week high of $44.65.

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.