Tortoise North American Pipeline Fund (NYSE:TPYP) Short Interest Up 126.5% in August

Tortoise North American Pipeline Fund (NYSE:TPYP) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 93,328 shares, an increase of 126.5% from the August 15th total of 41,197 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 36,882 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPYP. Integrated Wealth Concepts LLC acquired a new position in shares of Tortoise North American Pipeline Fund during the 2nd quarter worth about $34,000. Continuum Advisory LLC acquired a new position in shares of Tortoise North American Pipeline Fund during the second quarter worth approximately $37,000. Ball & Co Wealth Management Inc. bought a new stake in shares of Tortoise North American Pipeline Fund in the first quarter valued at approximately $117,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Tortoise North American Pipeline Fund in the first quarter worth $205,000. Finally, Ferguson Shapiro LLC bought a new position in Tortoise North American Pipeline Fund during the first quarter worth $218,000.

Tortoise North American Pipeline Fund Stock Performance

Shares of Tortoise North American Pipeline Fund stock traded down $0.14 during midday trading on Tuesday, reaching $42.38. 34,956 shares of the company’s stock traded hands, compared to its average volume of 81,328. Tortoise North American Pipeline Fund has a 52 week low of $33.94 and a 52 week high of $44.65. The company’s 50 day simple moving average is $43.07 and its 200 day simple moving average is $42.52. The company has a market cap of $863.28 million, a price-to-earnings ratio of 18.76 and a beta of 0.55.

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.