Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sets New 52-Week High – Still a Buy?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.63 and last traded at $33.63, with a volume of 302 shares. The stock had previously closed at $33.02.

Tortoise North American Pipeline Fund Trading Up 2.6 %

The company has a market capitalization of $657.27 million, a price-to-earnings ratio of 18.59 and a beta of 0.50. The firm has a 50-day moving average price of $31.95 and a 200-day moving average price of $30.02.

Institutional Trading of Tortoise North American Pipeline Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. bought a new position in shares of Tortoise North American Pipeline Fund in the second quarter valued at $155,000. Battery Global Advisors LLC acquired a new stake in shares of Tortoise North American Pipeline Fund during the second quarter worth $1,972,000. Janney Montgomery Scott LLC lifted its holdings in shares of Tortoise North American Pipeline Fund by 34.8% during the first quarter. Janney Montgomery Scott LLC now owns 108,328 shares of the company’s stock valued at $3,029,000 after purchasing an additional 27,987 shares during the last quarter. Finally, Foster & Motley Inc. increased its stake in Tortoise North American Pipeline Fund by 0.3% in the 3rd quarter. Foster & Motley Inc. now owns 709,480 shares of the company’s stock worth $22,263,000 after purchasing an additional 2,013 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.