Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Hits New 1-Year High – Here’s Why

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) hit a new 52-week high during trading on Friday . The company traded as high as $37.00 and last traded at $36.69, with a volume of 216 shares. The stock had previously closed at $36.58.

Tortoise North American Pipeline Fund Stock Up 0.9 %

The company has a market cap of $715.86 million, a PE ratio of 18.59 and a beta of 0.50. The business’s fifty day moving average is $35.09 and its 200-day moving average is $32.44.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Several hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. bought a new position in shares of Tortoise North American Pipeline Fund in the second quarter worth about $155,000. Flow Traders U.S. LLC bought a new position in shares of Tortoise North American Pipeline Fund in the third quarter worth about $592,000. Captrust Financial Advisors grew its holdings in shares of 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 during the last quarter. Battery Global Advisors LLC bought a new position in shares of Tortoise North American Pipeline Fund in the second quarter worth about $1,972,000. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Tortoise North American Pipeline Fund by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock worth $3,554,000 after purchasing an additional 5,760 shares during 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.