Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Strong Trading Volume – What’s Next?

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw an uptick in trading volume on Wednesday . 228,375 shares were traded during mid-day trading, an increase of 227% from the previous session’s volume of 69,870 shares.The stock last traded at $34.94 and had previously closed at $34.74.

Tortoise North American Pipeline Fund Price Performance

The firm has a market capitalization of $679.78 million, a P/E ratio of 18.59 and a beta of 0.50. The stock’s 50-day simple moving average is $33.97 and its two-hundred day simple moving average is $31.27.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

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

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.