Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Strong Trading Volume – Here’s Why

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw unusually-strong trading volume on Monday . Approximately 91,638 shares changed hands during trading, a decline of 6% from the previous session’s volume of 97,815 shares.The stock last traded at $42.2110 and had previously closed at $42.22.

Tortoise North American Pipeline Fund Price Performance

The company has a market capitalization of $875.46 million, a price-to-earnings ratio of 18.76 and a beta of 0.73. The firm has a fifty day simple moving average of $40.86 and a 200 day simple moving average of $37.37.

Tortoise North American Pipeline Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 26th were paid a $0.3407 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $1.36 dividend on an annualized basis and a yield of 3.2%. This is an increase from Tortoise North American Pipeline Fund’s previous quarterly dividend of $0.34.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its holdings in Tortoise North American Pipeline Fund by 93.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 117,545 shares of the company’s stock valued at $4,149,000 after purchasing an additional 56,846 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Tortoise North American Pipeline Fund by 20.1% during the 4th quarter. Cetera Investment Advisers now owns 16,581 shares of the company’s stock worth $585,000 after purchasing an additional 2,777 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Tortoise North American Pipeline Fund by 0.9% during the 4th quarter. Captrust Financial Advisors now owns 47,619 shares of the company’s stock worth $1,681,000 after purchasing an additional 447 shares during the last quarter. Zinnia Wealth Advisory LLC purchased a new position in Tortoise North American Pipeline Fund in the 4th quarter valued at about $246,000. Finally, Kestra Advisory Services LLC acquired a new stake in Tortoise North American Pipeline Fund in the 4th quarter worth about $46,000.

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.