Tortoise Pipeline & Energy Fund (NYSE:TTP) Stock Passes Above 200 Day Moving Average of $22.85

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.85 and traded as high as $25.45. Tortoise Pipeline & Energy Fund shares last traded at $25.22, with a volume of 6,373 shares traded.

The company’s 50 day moving average price is $23.50 and its 200-day moving average price is $22.87.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 31st. Shareholders of record on Tuesday, August 24th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 5.84%. This is a boost from Tortoise Pipeline & Energy Fund’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, August 23rd.

Several institutional investors and hedge funds have recently made changes to their positions in TTP. Punch & Associates Investment Management Inc. boosted its holdings in shares of Tortoise Pipeline & Energy Fund by 100.0% in the second quarter. Punch & Associates Investment Management Inc. now owns 268,485 shares of the investment management company’s stock worth $6,425,000 after buying an additional 134,242 shares during the period. Rivernorth Capital Management LLC acquired a new stake in shares of Tortoise Pipeline & Energy Fund during the second quarter worth approximately $1,073,000. First Trust Advisors LP raised its position in Tortoise Pipeline & Energy Fund by 41.6% during the first quarter. First Trust Advisors LP now owns 101,141 shares of the investment management company’s stock valued at $1,537,000 after acquiring an additional 29,712 shares in the last quarter. Wolverine Asset Management LLC bought a new position in Tortoise Pipeline & Energy Fund during the first quarter valued at approximately $397,000. Finally, Bard Associates Inc. raised its position in Tortoise Pipeline & Energy Fund by 10.0% during the second quarter. Bard Associates Inc. now owns 176,494 shares of the investment management company’s stock valued at $4,224,000 after acquiring an additional 16,111 shares in the last quarter.

Tortoise Pipeline & Energy Fund Company Profile (NYSE:TTP)

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.

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