Tortoise North American Pipeline Fund (NYSE:TPYP) Stock Jumps 0.7% – Here’s Why

Shares of Tortoise North American Pipeline Fund (NYSE:TPYP) rose 0.7% during trading on Monday. The stock traded as high as $41.16 and last traded at $40.9140. 65,876 shares were traded during trading, a decline of 16% from the average session volume of 78,660 shares. The stock had previously closed at $40.63.

Tortoise North American Pipeline Fund Stock Down 0.3%

The firm’s 50-day moving average price is $42.39 and its two-hundred day moving average price is $42.45. The firm has a market capitalization of $853.46 million, a PE ratio of 18.76 and a beta of 0.58.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Atwood & Palmer Inc. raised its holdings in shares of Tortoise North American Pipeline Fund by 0.5% during the 2nd quarter. Atwood & Palmer Inc. now owns 670,333 shares of the company’s stock valued at $28,107,000 after purchasing an additional 3,192 shares in the last quarter. Foster & Motley Inc. bought a new stake in Tortoise North American Pipeline Fund in the second quarter worth $27,078,000. Parkside Financial Bank & Trust boosted its holdings in Tortoise North American Pipeline Fund by 1.0% in the second quarter. Parkside Financial Bank & Trust now owns 288,602 shares of the company’s stock worth $12,101,000 after purchasing an additional 2,797 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Tortoise North American Pipeline Fund by 93.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 117,545 shares of the company’s stock worth $4,149,000 after buying an additional 56,846 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Tortoise North American Pipeline Fund by 16.6% during the first quarter. Royal Bank of Canada now owns 113,017 shares of the company’s stock worth $4,788,000 after buying an additional 16,090 shares during the last quarter.

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.