Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Large Volume Increase

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shares saw unusually-strong trading volume on Friday . Approximately 489,226 shares changed hands during trading, an increase of 525% from the previous session’s volume of 78,237 shares.The stock last traded at $30.92 and had previously closed at $31.20.

Tortoise North American Pipeline Fund Price Performance

The stock has a market capitalization of $598.88 million, a price-to-earnings ratio of 18.59 and a beta of 0.50. The firm has a 50-day moving average of $29.96 and a 200 day moving average of $28.53.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC purchased a new stake in shares of Tortoise North American Pipeline Fund in the fourth quarter worth approximately $2,084,000. Icon Wealth Advisors LLC purchased a new position in shares of Tortoise North American Pipeline Fund during the 4th quarter valued at $4,111,000. Edmonds Duncan Registered Investment Advisors LLC grew its holdings in shares of Tortoise North American Pipeline Fund by 2.2% during the first quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 241,363 shares of the company’s stock worth $6,749,000 after purchasing an additional 5,106 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Tortoise North American Pipeline Fund in the 2nd quarter worth $155,000. Finally, Battery Global Advisors LLC bought a new position in shares of Tortoise North American Pipeline Fund during the 2nd quarter valued at about $1,972,000.

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.