Tortoise North American Pipeline Fund (NYSE:TPYP) Sees Significant Growth in Short Interest

Tortoise North American Pipeline Fund (NYSE:TPYP) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 336,312 shares, a growth of 238.7% from the September 30th total of 99,291 shares. Based on an average daily volume of 46,918 shares, the short-interest ratio is currently 7.2 days. Currently, 1.6% of the company’s shares are sold short.

Tortoise North American Pipeline Fund Stock Up 0.4%

Shares of Tortoise North American Pipeline Fund stock opened at $44.26 on Friday. Tortoise North American Pipeline Fund has a 12 month low of $33.94 and a 12 month high of $44.65. The business has a fifty day simple moving average of $42.28 and a 200 day simple moving average of $41.78. The stock has a market cap of $928.91 million, a PE ratio of 18.76 and a beta of 0.58.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Hedge funds have recently added to or reduced their stakes in the stock. MGO One Seven LLC grew its holdings in Tortoise North American Pipeline Fund by 3.9% during the third quarter. MGO One Seven LLC now owns 25,535 shares of the company’s stock valued at $1,018,000 after purchasing an additional 949 shares during the period. Magnus Financial Group LLC increased its stake in Tortoise North American Pipeline Fund by 1.6% in the third quarter. Magnus Financial Group LLC now owns 876,917 shares of the company’s stock valued at $34,958,000 after purchasing an additional 13,421 shares in the last quarter. Arvest Investments Inc. increased its stake in Tortoise North American Pipeline Fund by 5.7% in the third quarter. Arvest Investments Inc. now owns 365,434 shares of the company’s stock valued at $14,568,000 after purchasing an additional 19,688 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in Tortoise North American Pipeline Fund by 11.2% in the third quarter. Diversify Advisory Services LLC now owns 71,172 shares of the company’s stock worth $2,939,000 after purchasing an additional 7,146 shares during the period. Finally, Eagle Strategies LLC raised its holdings in Tortoise North American Pipeline Fund by 11.4% in the third quarter. Eagle Strategies LLC now owns 195,309 shares of the company’s stock worth $7,786,000 after purchasing an additional 20,000 shares during the period.

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.