Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Shares Down 0.7% – Time to Sell?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s share price was down 0.7% during mid-day trading on Thursday . The company traded as low as $42.36 and last traded at $42.36. Approximately 110,928 shares traded hands during mid-day trading, an increase of 11% from the average daily volume of 99,507 shares. The stock had previously closed at $42.65.

Tortoise North American Pipeline Fund Price Performance

The stock’s 50-day moving average price is $42.30 and its 200-day moving average price is $39.68. The company has a market cap of $880.24 million, a P/E ratio of 18.76 and a beta of 0.55.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

A number of institutional investors have recently modified their holdings of TPYP. Morgan Stanley raised its stake in Tortoise North American Pipeline Fund by 9.8% in the fourth quarter. Morgan Stanley now owns 3,391,404 shares of the company’s stock valued at $119,696,000 after purchasing an additional 301,857 shares in the last quarter. Arvest Bank Trust Division raised its stake in Tortoise North American Pipeline Fund by 2.4% in the third quarter. Arvest Bank Trust Division now owns 1,281,439 shares of the company’s stock valued at $46,708,000 after purchasing an additional 30,327 shares in the last quarter. Bank of America Corp DE raised its stake in Tortoise North American Pipeline Fund by 15.8% in the third quarter. Bank of America Corp DE now owns 1,017,255 shares of the company’s stock valued at $37,079,000 after purchasing an additional 138,577 shares in the last quarter. Traphagen Investment Advisors LLC raised its stake in Tortoise North American Pipeline Fund by 4.7% in the fourth quarter. Traphagen Investment Advisors LLC now owns 737,773 shares of the company’s stock valued at $26,039,000 after purchasing an additional 33,014 shares in the last quarter. Finally, Atwood & Palmer Inc. raised its stake in Tortoise North American Pipeline Fund by 0.6% in the fourth quarter. Atwood & Palmer Inc. now owns 664,650 shares of the company’s stock valued at $23,458,000 after purchasing an additional 3,860 shares in the last quarter.

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.