Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sets New 12-Month High – What’s Next?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $43.60 and last traded at $43.4750, with a volume of 6300 shares traded. The stock had previously closed at $42.80.

Tortoise North American Pipeline Fund Stock Up 1.5%

The business has a 50-day moving average price of $39.67 and a 200-day moving average price of $36.92. The firm has a market capitalization of $865.97 million, a P/E ratio of 18.76 and a beta of 0.73.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Keudell Morrison Wealth Management bought a new position in shares of Tortoise North American Pipeline Fund during the 4th quarter worth about $10,911,000. Morgan Stanley increased its stake in Tortoise North American Pipeline Fund by 9.8% in the fourth quarter. Morgan Stanley now owns 3,391,404 shares of the company’s stock valued at $119,696,000 after acquiring an additional 301,857 shares during the period. Bank of America Corp DE raised its position in Tortoise North American Pipeline Fund by 15.8% in the third quarter. Bank of America Corp DE now owns 1,017,255 shares of the company’s stock worth $37,079,000 after purchasing an additional 138,577 shares in the last quarter. First National Bank of Omaha acquired a new position in Tortoise North American Pipeline Fund in the fourth quarter worth about $3,567,000. Finally, Blueline Advisors LLC bought a new position in Tortoise North American Pipeline Fund during the fourth quarter worth about $3,413,000.

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.