Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Trading Up 1.3% – Time to Buy?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shares traded up 1.3% during trading on Wednesday . The company traded as high as $43.96 and last traded at $43.95. Approximately 45,677 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 92,120 shares. The stock had previously closed at $43.38.

Tortoise North American Pipeline Fund Stock Up 1.3%

The stock has a market cap of $895.26 million, a P/E ratio of 18.76 and a beta of 0.55. The firm has a 50 day moving average price of $42.69 and a 200 day moving average price of $41.09.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

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