Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Hits New 12-Month High – Here’s What Happened

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $44.58 and last traded at $43.83, with a volume of 72215 shares trading hands. The stock had previously closed at $44.38.

Tortoise North American Pipeline Fund Stock Up 0.7%

The stock has a market capitalization of $909.70 million, a price-to-earnings ratio of 18.76 and a beta of 0.58. The stock’s 50-day simple moving average is $42.34 and its 200 day simple moving average is $38.92.

Tortoise North American Pipeline Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 26th were given a $0.3407 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 3.1%. This is a boost from Tortoise North American Pipeline Fund’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, March 26th.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPYP. Kestra Advisory Services LLC acquired a new position in Tortoise North American Pipeline Fund in the fourth quarter valued at about $46,000. Flagship Harbor Advisors LLC acquired a new position in Tortoise North American Pipeline Fund in the fourth quarter valued at about $53,000. Ball & Co Wealth Management Inc. acquired a new position in Tortoise North American Pipeline Fund in the first quarter valued at about $117,000. Advisory Services Network LLC acquired a new position in Tortoise North American Pipeline Fund in the third quarter valued at about $174,000. Finally, Sunbelt Securities Inc. acquired a new position in Tortoise North American Pipeline Fund in the third quarter valued at about $182,000.

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.