Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Unusually-High Trading Volume – Here’s Why

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw an uptick in trading volume on Friday . 129,733 shares traded hands during mid-day trading, an increase of 99% from the previous session’s volume of 65,307 shares.The stock last traded at $33.15 and had previously closed at $35.72.

Tortoise North American Pipeline Fund Stock Performance

The business’s fifty day moving average price is $35.61 and its two-hundred day moving average price is $34.63. The stock has a market capitalization of $675.89 million, a P/E ratio of 19.95 and a beta of 1.10.

Tortoise North American Pipeline Fund Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 27th were paid a dividend of $0.355 per share. This is a boost from Tortoise North American Pipeline Fund’s previous dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 27th.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Large investors have recently modified their holdings of the stock. Captrust Financial Advisors boosted its stake in Tortoise North American Pipeline Fund by 12.7% during the fourth quarter. Captrust Financial Advisors now owns 45,548 shares of the company’s stock worth $1,553,000 after buying an additional 5,145 shares during the period. Private Trust Co. NA purchased a new position in shares of Tortoise North American Pipeline Fund during the 4th quarter worth about $157,000. Baird Financial Group Inc. grew its holdings in Tortoise North American Pipeline Fund by 87.0% during the 4th quarter. Baird Financial Group Inc. now owns 8,271 shares of the company’s stock valued at $282,000 after purchasing an additional 3,849 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Tortoise North American Pipeline Fund in the 4th quarter worth about $38,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Tortoise North American Pipeline Fund in the fourth quarter worth about $31,000.

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.