Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Short Interest Down 22.5% in June

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) was the recipient of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 6,200 shares, a drop of 22.5% from the May 31st total of 8,000 shares. Based on an average daily trading volume, of 6,100 shares, the days-to-cover ratio is presently 1.0 days.

Tortoise Pipeline & Energy Fund Stock Up 2.4 %

TTP traded up $0.84 during trading on Friday, hitting $36.18. 25,475 shares of the stock traded hands, compared to its average volume of 7,453. The business has a 50 day moving average price of $33.75 and a 200 day moving average price of $30.93. Tortoise Pipeline & Energy Fund has a twelve month low of $26.21 and a twelve month high of $37.72.

Tortoise Pipeline & Energy Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Thursday, June 27th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.36 annualized dividend and a dividend yield of 6.52%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC lifted its holdings in Tortoise Pipeline & Energy Fund by 13,650.0% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 1,100 shares of the investment management company’s stock worth $35,000 after buying an additional 1,092 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Tortoise Pipeline & Energy Fund by 4.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 37,202 shares of the investment management company’s stock worth $1,046,000 after acquiring an additional 1,625 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Tortoise Pipeline & Energy Fund by 12.9% in the fourth quarter. D.A. Davidson & CO. now owns 15,694 shares of the investment management company’s stock worth $441,000 after acquiring an additional 1,799 shares during the period. J.W. Cole Advisors Inc. bought a new stake in Tortoise Pipeline & Energy Fund in the first quarter valued at approximately $213,000. Finally, Matisse Capital acquired a new stake in Tortoise Pipeline & Energy Fund during the 1st quarter valued at approximately $245,000.

Tortoise Pipeline & Energy Fund Company Profile

Tortoise Pipeline & Energy Fund, Inc is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors, LLC. It invests in public equity markets of North America. The fund invests in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil, and refined petroleum products.