Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Short Interest Update

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,700 shares, a drop of 43.8% from the October 15th total of 4,800 shares. Based on an average daily trading volume, of 6,600 shares, the days-to-cover ratio is currently 0.4 days.

Tortoise Pipeline & Energy Fund Stock Performance

Shares of TTP stock traded down $0.58 during trading hours on Wednesday, hitting $48.35. 13,581 shares of the company were exchanged, compared to its average volume of 7,759. Tortoise Pipeline & Energy Fund has a fifty-two week low of $26.43 and a fifty-two week high of $49.71. The company has a 50 day simple moving average of $43.95 and a two-hundred day simple moving average of $38.75.

Tortoise Pipeline & Energy Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, November 22nd.

Institutional Trading of Tortoise Pipeline & Energy Fund

Several large investors have recently modified their holdings of TTP. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Tortoise Pipeline & Energy Fund by 115.6% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 2,372 shares of the investment management company’s stock worth $86,000 after purchasing an additional 1,272 shares in the last quarter. Concorde Asset Management LLC bought a new position in shares of Tortoise Pipeline & Energy Fund in the 2nd quarter worth $384,000. Almitas Capital LLC lifted its stake in 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 valued at $4,219,000 after acquiring an additional 867 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Tortoise Pipeline & Energy Fund by 16.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 34,715 shares of the investment management company’s stock valued at $1,465,000 after acquiring an additional 4,859 shares in the last quarter. Finally, Bayshore Asset Management LLC bought a new position in Tortoise Pipeline & Energy Fund during the 3rd quarter valued at $227,000.

About Tortoise Pipeline & Energy Fund

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.