Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Unusually-High Trading Volume – What’s Next?

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw strong trading volume on Friday . 170,090 shares changed hands during mid-day trading, an increase of 138% from the previous session’s volume of 71,373 shares.The stock last traded at $34.86 and had previously closed at $34.73.

Tortoise North American Pipeline Fund Price Performance

The firm has a market capitalization of $679.19 million, a PE ratio of 18.59 and a beta of 0.50. The business’s 50 day moving average is $32.49 and its two-hundred day moving average is $30.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new stake in Tortoise North American Pipeline Fund during the second quarter worth about $155,000. Flow Traders U.S. LLC purchased a new position in Tortoise North American Pipeline Fund in the 3rd quarter worth $592,000. Captrust Financial Advisors lifted its stake in shares of Tortoise North American Pipeline Fund by 10.1% in the 3rd quarter. Captrust Financial Advisors now owns 40,403 shares of the company’s stock valued at $1,268,000 after acquiring an additional 3,695 shares during the last quarter. Battery Global Advisors LLC purchased a new stake in Tortoise North American Pipeline Fund during the 2nd quarter valued at about $1,972,000. Finally, Janney Montgomery Scott LLC lifted its position in Tortoise North American Pipeline Fund by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock valued at $3,554,000 after purchasing an additional 5,760 shares during the last quarter.

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.