Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Unusually-High Trading Volume – Here’s Why

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shares saw strong trading volume on Wednesday . Approximately 254,764 shares changed hands during mid-day trading, an increase of 168% from the previous session’s volume of 95,090 shares.The stock last traded at $41.6320 and had previously closed at $41.93.

Tortoise North American Pipeline Fund Stock Performance

The company has a 50 day simple moving average of $42.41 and a 200 day simple moving average of $40.33. The stock has a market capitalization of $851.47 million, a PE ratio of 18.76 and a beta of 0.54.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new position in Tortoise North American Pipeline Fund during the 4th quarter worth $46,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Tortoise North American Pipeline Fund in the fourth quarter valued at about $53,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Tortoise North American Pipeline Fund in the first quarter valued at about $117,000. Advisory Services Network LLC purchased a new stake in shares of Tortoise North American Pipeline Fund in the third quarter valued at about $174,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Tortoise North American Pipeline Fund during the third quarter worth 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.