Tortoise North American Pipeline Fund (NYSE:TPYP) Short Interest Up 126.5% in August

Tortoise North American Pipeline Fund (NYSE:TPYP) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 93,328 shares, a growth of 126.5% from the August 15th total of 41,197 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average trading volume of 36,882 shares, the short-interest ratio is presently 2.5 days.

Tortoise North American Pipeline Fund Stock Down 0.0%

TPYP opened at $42.71 on Monday. The stock’s fifty day moving average is $43.05 and its two-hundred day moving average is $42.51. The company has a market capitalization of $870.04 million, a P/E ratio of 18.76 and a beta of 0.55. Tortoise North American Pipeline Fund has a 52 week low of $33.94 and a 52 week high of $44.65.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Several institutional investors have recently made changes to their positions in the company. Foster & Motley Inc. purchased a new position in Tortoise North American Pipeline Fund during the 2nd quarter valued at about $27,078,000. Keudell Morrison Wealth Management purchased a new position in Tortoise North American Pipeline Fund during the fourth quarter valued at approximately $10,911,000. Morgan Stanley increased its holdings in Tortoise North American Pipeline Fund by 9.8% during the fourth quarter. Morgan Stanley now owns 3,391,404 shares of the company’s stock valued at $119,696,000 after buying an additional 301,857 shares during the period. Bank of America Corp DE increased its holdings in Tortoise North American Pipeline Fund by 15.8% during the third quarter. Bank of America Corp DE now owns 1,017,255 shares of the company’s stock valued at $37,079,000 after buying an additional 138,577 shares during the period. Finally, First National Bank of Omaha bought a new position in Tortoise North American Pipeline Fund in the fourth quarter worth approximately $3,567,000.

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.