Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Large Volume Increase – Should You Buy?

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw unusually-strong trading volume on Tuesday . Approximately 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 Trading Up 0.0 %

The business’s fifty day moving average is $34.70 and its 200 day moving average is $32.12. The company has a market cap of $670.46 million, a P/E ratio of 18.59 and a beta of 0.50.

Institutional Trading of Tortoise North American Pipeline Fund

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