Short Interest in Tortoise North American Pipeline Fund (NYSE:TPYP) Grows By 126.5%

Tortoise North American Pipeline Fund (NYSE:TPYP) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 93,328 shares, an increase of 126.5% from the August 15th total of 41,197 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 36,882 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Foster & Motley Inc. bought a new position in Tortoise North American Pipeline Fund during the second quarter worth about $27,078,000. Keudell Morrison Wealth Management bought a new stake in shares of Tortoise North American Pipeline Fund in the fourth quarter worth about $10,911,000. Blueline Advisors LLC bought a new stake in shares of Tortoise North American Pipeline Fund in the fourth quarter worth about $3,413,000. Rockefeller Capital Management L.P. raised its position in shares of 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 worth $4,149,000 after purchasing an additional 56,846 shares during the period. Finally, Diversify Wealth Management LLC raised its position in shares of Tortoise North American Pipeline Fund by 50.8% during the first quarter. Diversify Wealth Management LLC now owns 61,547 shares of the company’s stock worth $2,605,000 after purchasing an additional 20,727 shares during the period.

Tortoise North American Pipeline Fund Stock Down 0.6%

Shares of Tortoise North American Pipeline Fund stock opened at $42.27 on Wednesday. Tortoise North American Pipeline Fund has a 12 month low of $33.94 and a 12 month high of $44.65. The business has a fifty day simple moving average of $43.06 and a 200 day simple moving average of $42.53. The stock has a market cap of $860.94 million, a PE ratio of 18.76 and a beta of 0.55.

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.