Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Plans Dividend of $0.15

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTPGet Rating) announced a dividend on Thursday, September 22nd, investing.com reports. Shareholders of record on Thursday, September 29th will be paid a dividend of 0.145 per share by the investment management company on Thursday, October 6th. This represents a yield of 2.11%. The ex-dividend date of this dividend is Wednesday, September 28th.

Tortoise Pipeline & Energy Fund has decreased its dividend by an average of 45.4% annually over the last three years and has increased its dividend annually for the last 2 consecutive years.

Tortoise Pipeline & Energy Fund Trading Down 2.0 %

Shares of TTP stock opened at $27.55 on Thursday. The firm’s 50-day simple moving average is $28.99 and its 200-day simple moving average is $28.36. Tortoise Pipeline & Energy Fund has a 1-year low of $21.16 and a 1-year high of $31.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG grew its stake in shares of Tortoise Pipeline & Energy Fund by 89.3% in the second quarter. UBS Group AG now owns 2,483 shares of the investment management company’s stock valued at $62,000 after buying an additional 1,171 shares in the last quarter. Bank of America Corp DE grew its position in Tortoise Pipeline & Energy Fund by 8.8% in the first quarter. Bank of America Corp DE now owns 11,725 shares of the investment management company’s stock valued at $344,000 after acquiring an additional 950 shares in the last quarter. Cannell Capital LLC raised its stake in shares of Tortoise Pipeline & Energy Fund by 19.9% during the first quarter. Cannell Capital LLC now owns 44,900 shares of the investment management company’s stock valued at $1,316,000 after purchasing an additional 7,461 shares during the period. Royal Bank of Canada lifted its position in shares of Tortoise Pipeline & Energy Fund by 15.7% during the first quarter. Royal Bank of Canada now owns 12,867 shares of the investment management company’s stock worth $377,000 after purchasing an additional 1,750 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new position in shares of Tortoise Pipeline & Energy Fund in the first quarter valued at $203,000.

About Tortoise Pipeline & Energy Fund

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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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Dividend History for Tortoise Pipeline & Energy Fund (NYSE:TTP)

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