Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sets New 52-Week High – What’s Next?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) hit a new 52-week high on Friday . The stock traded as high as $32.27 and last traded at $32.27, with a volume of 894 shares. The stock had previously closed at $32.12.

Tortoise North American Pipeline Fund Trading Up 0.5 %

The stock has a 50 day moving average of $30.83 and a 200-day moving average of $29.17. The stock has a market capitalization of $626.04 million, a P/E ratio of 18.59 and a beta of 0.50.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Icon Wealth Advisors LLC purchased a new stake in Tortoise North American Pipeline Fund in the 4th quarter valued at about $4,111,000. Edmonds Duncan Registered Investment Advisors LLC boosted its holdings in shares of Tortoise North American Pipeline Fund by 2.2% in the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 241,363 shares of the company’s stock valued at $6,749,000 after purchasing an additional 5,106 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Tortoise North American Pipeline Fund by 34.8% in the first quarter. Janney Montgomery Scott LLC now owns 108,328 shares of the company’s stock valued at $3,029,000 after purchasing an additional 27,987 shares during the period. Brown Brothers Harriman & Co. bought a new position in Tortoise North American Pipeline Fund in the second quarter worth approximately $155,000. Finally, Battery Global Advisors LLC purchased a new position in Tortoise North American Pipeline Fund during the 2nd quarter worth $1,972,000.

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.