Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Shares Down 1% – Here’s Why

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s share price was down 1% during mid-day trading on Friday . The stock traded as low as $36.30 and last traded at $36.32. Approximately 26,648 shares changed hands during trading, a decline of 59% from the average daily volume of 64,859 shares. The stock had previously closed at $36.69.

Tortoise North American Pipeline Fund Price Performance

The business’s 50 day simple moving average is $35.65 and its 200 day simple moving average is $34.29. The company has a market capitalization of $750.01 million, a price-to-earnings ratio of 19.00 and a beta of 1.10.

Institutional Trading of Tortoise North American Pipeline Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPYP. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Tortoise North American Pipeline Fund during the fourth quarter worth approximately $31,000. BNP Paribas Financial Markets acquired a new stake in shares of Tortoise North American Pipeline Fund in the 4th quarter worth $38,000. Private Trust Co. NA purchased a new stake in shares of Tortoise North American Pipeline Fund in the fourth quarter valued at about $157,000. Baird Financial Group Inc. increased its stake in shares of Tortoise North American Pipeline Fund by 87.0% during the fourth quarter. Baird Financial Group Inc. now owns 8,271 shares of the company’s stock worth $282,000 after acquiring an additional 3,849 shares during the period. Finally, Flow Traders U.S. LLC purchased a new position in Tortoise North American Pipeline Fund during the third quarter worth about $592,000.

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.