Short Interest in Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Rises By 53.2%

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) saw a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 7,200 shares, an increase of 53.2% from the July 31st total of 4,700 shares. Based on an average daily trading volume, of 9,000 shares, the short-interest ratio is presently 0.8 days.

Tortoise Pipeline & Energy Fund Stock Up 0.2 %

Shares of NYSE:TTP opened at $41.69 on Friday. Tortoise Pipeline & Energy Fund has a 1 year low of $26.21 and a 1 year high of $42.10. The business’s 50 day moving average price is $37.46 and its 200-day moving average price is $33.83.

Tortoise Pipeline & Energy Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $2.36 annualized dividend and a yield of 5.66%.

Institutional Investors Weigh In On Tortoise Pipeline & Energy Fund

A number of large investors have recently modified their holdings of TTP. Almitas Capital LLC boosted its holdings in shares of Tortoise Pipeline & Energy Fund by 0.7% during the 2nd quarter. Almitas Capital LLC now owns 116,622 shares of the investment management company’s stock worth $4,219,000 after purchasing an additional 867 shares during the last quarter. Concorde Asset Management LLC purchased a new position in Tortoise Pipeline & Energy Fund during the second quarter worth approximately $384,000. Blue Bell Private Wealth Management LLC boosted its stake in Tortoise Pipeline & Energy Fund by 115.6% during the second quarter. Blue Bell Private Wealth Management LLC now owns 2,372 shares of the investment management company’s stock worth $86,000 after buying an additional 1,272 shares during the last quarter. Matisse Capital purchased a new stake in Tortoise Pipeline & Energy Fund in the 1st quarter valued at $245,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Tortoise Pipeline & Energy Fund in the 1st quarter worth $213,000.

Tortoise Pipeline & Energy Fund Company Profile

Tortoise Pipeline & Energy Fund, Inc is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors, LLC. It invests in public equity markets of North America. The fund invests in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil, and refined petroleum products.