Tortoise North American Pipeline Fund (NYSE:TPYP) Sees Significant Drop in Short Interest

Tortoise North American Pipeline Fund (NYSE:TPYP) saw a large decrease in short interest during the month of October. As of October 30th, there was short interest totaling 44,864 shares, a decrease of 86.7% from the October 15th total of 336,312 shares. Based on an average daily volume of 26,454 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.2% of the company’s stock are sold short.

Tortoise North American Pipeline Fund Stock Performance

Shares of Tortoise North American Pipeline Fund stock traded up $0.10 during midday trading on Friday, reaching $42.70. 21,000 shares of the company’s stock traded hands, compared to its average volume of 72,645. Tortoise North American Pipeline Fund has a 52 week low of $34.56 and a 52 week high of $44.65. The company’s 50 day simple moving average is $42.05 and its 200 day simple moving average is $42.04. The company has a market cap of $897.66 million, a price-to-earnings ratio of 18.03 and a beta of 0.56.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Several hedge funds have recently bought and sold shares of the business. Foster & Motley Inc. acquired a new stake in shares of Tortoise North American Pipeline Fund in the second quarter worth about $27,078,000. Diversify Wealth Management LLC increased its holdings in shares of Tortoise North American Pipeline Fund by 50.8% during the 1st quarter. Diversify Wealth Management LLC now owns 61,547 shares of the company’s stock valued at $2,605,000 after acquiring an additional 20,727 shares during the last quarter. Eagle Strategies LLC increased its holdings in shares of Tortoise North American Pipeline Fund by 11.4% during the 3rd quarter. Eagle Strategies LLC now owns 195,309 shares of the company’s stock valued at $7,786,000 after acquiring an additional 20,000 shares during the last quarter. Arvest Investments Inc. increased its holdings in shares of Tortoise North American Pipeline Fund by 5.7% during the 3rd quarter. Arvest Investments Inc. now owns 365,434 shares of the company’s stock valued at $14,568,000 after acquiring an additional 19,688 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Tortoise North American Pipeline Fund by 148.4% in the 1st quarter. Bank of New York Mellon Corp now owns 26,936 shares of the company’s stock valued at $1,141,000 after acquiring an additional 16,094 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.