Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Large Growth in Short Interest

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) was the recipient of a large increase in short interest in May. As of May 31st, there was short interest totalling 20,700 shares, an increase of 404.9% from the May 15th total of 4,100 shares. Based on an average daily volume of 57,300 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Trading of Tortoise North American Pipeline Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Nova Wealth Management Inc. acquired a new stake in Tortoise North American Pipeline Fund during the first quarter valued at approximately $519,000. NewEdge Advisors LLC increased its holdings in shares of Tortoise North American Pipeline Fund by 16,369.0% in the 1st quarter. NewEdge Advisors LLC now owns 16,469 shares of the company’s stock valued at $599,000 after acquiring an additional 16,369 shares during the last quarter. West Michigan Advisors LLC acquired a new stake in shares of Tortoise North American Pipeline Fund during the 1st quarter valued at approximately $412,000. Argent Trust Co acquired a new stake in shares of Tortoise North American Pipeline Fund during the 1st quarter valued at approximately $210,000. Finally, Farther Finance Advisors LLC bought a new position in Tortoise North American Pipeline Fund during the first quarter worth $33,000.

Tortoise North American Pipeline Fund Stock Up 0.6%

Shares of TPYP opened at $35.47 on Thursday. The firm has a market cap of $709.40 million, a price-to-earnings ratio of 19.22 and a beta of 0.78. The business’s 50 day moving average is $34.84 and its two-hundred day moving average is $35.23. Tortoise North American Pipeline Fund has a 52-week low of $28.00 and a 52-week high of $37.50.

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.