Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Short Interest Update

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) was the target of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 2,700 shares, a decrease of 43.8% from the October 15th total of 4,800 shares. Based on an average daily trading volume, of 6,600 shares, the days-to-cover ratio is currently 0.4 days.

Tortoise Pipeline & Energy Fund Stock Performance

Shares of NYSE:TTP traded down $0.58 during trading on Wednesday, reaching $48.35. 13,581 shares of the company traded hands, compared to its average volume of 7,759. Tortoise Pipeline & Energy Fund has a 52-week low of $26.43 and a 52-week high of $49.71. The business’s fifty day moving average is $43.95 and its 200-day moving average is $38.75.

Tortoise Pipeline & Energy Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.36 annualized dividend and a dividend yield of 4.88%.

Institutional Investors Weigh In On Tortoise Pipeline & Energy Fund

Several institutional investors have recently modified their holdings of TTP. Blue Bell Private Wealth Management LLC raised its stake in Tortoise Pipeline & Energy Fund by 115.6% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 2,372 shares of the investment management company’s stock valued at $86,000 after purchasing an additional 1,272 shares during the period. Bayshore Asset Management LLC bought a new stake in Tortoise Pipeline & Energy Fund in the 3rd quarter worth approximately $227,000. Concorde Asset Management LLC bought a new position in shares of Tortoise Pipeline & Energy Fund during the 2nd quarter valued at approximately $384,000. D.A. Davidson & CO. increased its position in shares of Tortoise Pipeline & Energy Fund by 30.4% during the 3rd quarter. D.A. Davidson & CO. now owns 22,327 shares of the investment management company’s stock valued at $942,000 after purchasing an additional 5,206 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Tortoise Pipeline & Energy Fund by 16.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 34,715 shares of the investment management company’s stock valued at $1,465,000 after acquiring an additional 4,859 shares during the period.

Tortoise Pipeline & Energy Fund Company Profile

Tortoise Pipeline & Energy Fund, Inc is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors, LLC. It invests in public equity markets of North America. The fund invests in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil, and refined petroleum products.