Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Unusually-High Trading Volume – Here’s What Happened

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw an uptick in trading volume on Tuesday . 167,871 shares changed hands during mid-day trading, an increase of 88% from the previous session’s volume of 89,180 shares.The stock last traded at $34.58 and had previously closed at $34.55.

Tortoise North American Pipeline Fund Stock Up 1.4 %

The firm’s 50-day simple moving average is $34.80 and its 200-day simple moving average is $32.18. The firm has a market capitalization of $679.78 million, a P/E ratio of 18.59 and a beta of 0.50.

Institutional Trading of Tortoise North American Pipeline Fund

Hedge funds have recently bought and sold shares of the company. Battery Global Advisors LLC bought a new stake in Tortoise North American Pipeline Fund during the 2nd quarter valued at $1,972,000. Flow Traders U.S. LLC purchased a new position in shares of Tortoise North American Pipeline Fund during the 3rd quarter worth approximately $592,000. Janney Montgomery Scott LLC boosted its position in shares of Tortoise North American Pipeline Fund by 5.4% during the third quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock valued at $3,554,000 after purchasing an additional 5,760 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Tortoise North American Pipeline Fund in the second quarter worth $155,000. Finally, Captrust Financial Advisors raised its holdings in Tortoise North American Pipeline Fund by 10.1% in the third quarter. Captrust Financial Advisors now owns 40,403 shares of the company’s stock worth $1,268,000 after purchasing an additional 3,695 shares in the last quarter.

About Tortoise North American Pipeline Fund

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.