Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Strong Trading Volume – Should You Buy?

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw strong trading volume on Thursday . 250,418 shares were traded during trading, an increase of 270% from the previous session’s volume of 67,615 shares.The stock last traded at $32.45 and had previously closed at $33.58.

Tortoise North American Pipeline Fund Trading Up 2.3 %

The stock has a fifty day simple moving average of $35.26 and a 200-day simple moving average of $34.67. The stock has a market cap of $693.19 million, a price-to-earnings ratio of 19.95 and a beta of 1.10.

Tortoise North American Pipeline Fund Increases Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 28th. Stockholders of record on Thursday, March 27th were paid a $0.355 dividend. This is an increase from Tortoise North American Pipeline Fund’s previous dividend of $0.34. The ex-dividend date of this dividend was Thursday, March 27th.

Institutional Trading of Tortoise North American Pipeline Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new position in shares of Tortoise North American Pipeline Fund during the fourth quarter valued at about $31,000. Princeton Global Asset Management LLC raised its holdings in Tortoise North American Pipeline Fund by 89.6% in the 1st quarter. Princeton Global Asset Management LLC now owns 1,005 shares of the company’s stock valued at $37,000 after acquiring an additional 475 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Tortoise North American Pipeline Fund in the 4th quarter valued at approximately $38,000. City State Bank bought a new stake in shares of Tortoise North American Pipeline Fund in the 1st quarter worth approximately $120,000. Finally, Private Trust Co. NA acquired a new stake in shares of Tortoise North American Pipeline Fund during the 4th quarter worth approximately $157,000.

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.