Tortoise Pipeline & Energy Fund (NYSE:TTP) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $42.60 and traded as high as $47.70. Tortoise Pipeline & Energy Fund shares last traded at $47.61, with a volume of 4,204 shares traded.

Tortoise Pipeline & Energy Fund Trading Up 2.0 %

The firm’s fifty day moving average is $48.39 and its 200-day moving average is $42.67.

Tortoise Pipeline & Energy Fund Dividend Announcement

The firm also recently announced a — dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, December 6th were issued a $0.175 dividend. This represents a dividend yield of 4.6%. The ex-dividend date was Friday, December 6th.

Hedge Funds Weigh In On Tortoise Pipeline & Energy Fund

Institutional investors have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC increased its stake in shares of Tortoise Pipeline & Energy Fund by 115.6% in the second quarter. Blue Bell Private Wealth Management LLC now owns 2,372 shares of the investment management company’s stock valued at $86,000 after buying an additional 1,272 shares in the last quarter. Quarry LP acquired a new stake in Tortoise Pipeline & Energy Fund in the 3rd quarter valued at about $110,000. Bayshore Asset Management LLC bought a new position in shares of Tortoise Pipeline & Energy Fund in the third quarter worth about $227,000. Concorde Asset Management LLC acquired a new position in shares of Tortoise Pipeline & Energy Fund during the second quarter worth approximately $384,000. Finally, D.A. Davidson & CO. grew its stake in shares of Tortoise Pipeline & Energy Fund by 30.4% during the third quarter. D.A. Davidson & CO. now owns 22,327 shares of the investment management company’s stock valued at $942,000 after purchasing an additional 5,206 shares during the last quarter.

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.