Tortoise North American Pipeline Fund (NYSE:TPYP) Stock Jumps 0.7% – Should You Buy?

Tortoise North American Pipeline Fund (NYSE:TPYP) shares were up 0.7% on Monday. The company traded as high as $41.16 and last traded at $40.9140. Approximately 65,876 shares were traded during trading, a decline of 16% from the average session volume of 78,660 shares. The stock had previously closed at $40.63.

Tortoise North American Pipeline Fund Stock Performance

The business’s 50 day moving average price is $42.41 and its 200-day moving average price is $42.45. The firm has a market capitalization of $845.69 million, a PE ratio of 18.76 and a beta of 0.58.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TPYP. Integrated Wealth Concepts LLC purchased a new position in shares of Tortoise North American Pipeline Fund during the second quarter worth $34,000. Allworth Financial LP raised its holdings in shares of Tortoise North American Pipeline Fund by 5.5% in the 2nd quarter. Allworth Financial LP now owns 7,771 shares of the company’s stock valued at $326,000 after buying an additional 406 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Tortoise North American Pipeline Fund by 1.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 288,602 shares of the company’s stock valued at $12,101,000 after buying an additional 2,797 shares during the period. Continuum Advisory LLC acquired a new position in Tortoise North American Pipeline Fund during the 2nd quarter worth about $37,000. Finally, Foster & Motley Inc. acquired a new position in Tortoise North American Pipeline Fund during the 2nd quarter worth about $27,078,000.

Tortoise North American Pipeline Fund Company Profile

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.