Short Interest in Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Declines By 22.5%

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) saw a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 6,200 shares, a decrease of 22.5% from the May 31st total of 8,000 shares. Based on an average daily trading volume, of 6,100 shares, the days-to-cover ratio is currently 1.0 days.

Tortoise Pipeline & Energy Fund Price Performance

TTP traded up $0.84 during midday trading on Friday, hitting $36.18. 25,475 shares of the company were exchanged, compared to its average volume of 7,453. The company’s 50 day simple moving average is $33.75 and its 200 day simple moving average is $30.93. Tortoise Pipeline & Energy Fund has a 1-year low of $26.21 and a 1-year high of $37.72.

Tortoise Pipeline & Energy Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Thursday, June 27th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 6.52%. The ex-dividend date is Thursday, June 27th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of Tortoise Pipeline & Energy Fund in the fourth quarter worth about $512,000. Wolverine Asset Management LLC boosted its holdings in Tortoise Pipeline & Energy Fund by 78.3% in the fourth quarter. Wolverine Asset Management LLC now owns 26,392 shares of the investment management company’s stock valued at $742,000 after purchasing an additional 11,591 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Tortoise Pipeline & Energy Fund by 2,710.9% in the 4th quarter. International Assets Investment Management LLC now owns 9,529 shares of the investment management company’s stock valued at $268,000 after purchasing an additional 9,190 shares in the last quarter. Matisse Capital acquired a new stake in Tortoise Pipeline & Energy Fund in the first quarter valued at $245,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in Tortoise Pipeline & Energy Fund during the first quarter worth approximately $213,000.

Tortoise Pipeline & Energy Fund Company Profile

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.