Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Sees Large Decrease in Short Interest

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,500 shares, a decline of 51.4% from the August 15th total of 7,200 shares. Based on an average daily volume of 8,600 shares, the short-interest ratio is presently 0.4 days.

Hedge Funds Weigh In On Tortoise Pipeline & Energy Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Tortoise Pipeline & Energy Fund by 13,650.0% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 1,100 shares of the investment management company’s stock valued at $35,000 after acquiring an additional 1,092 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Tortoise Pipeline & Energy Fund in the 1st quarter worth about $213,000. Matisse Capital bought a new position in shares of Tortoise Pipeline & Energy Fund in the 1st quarter worth about $245,000. Concorde Asset Management LLC bought a new stake in Tortoise Pipeline & Energy Fund in the 2nd quarter valued at about $384,000. Finally, D.A. Davidson & CO. increased its position in Tortoise Pipeline & Energy Fund by 12.9% in the 4th quarter. D.A. Davidson & CO. now owns 15,694 shares of the investment management company’s stock valued at $441,000 after buying an additional 1,799 shares in the last quarter.

Tortoise Pipeline & Energy Fund Stock Performance

NYSE TTP traded up $0.25 during trading hours on Friday, hitting $41.50. 300 shares of the company traded hands, compared to its average volume of 7,985. Tortoise Pipeline & Energy Fund has a twelve month low of $26.21 and a twelve month high of $42.10. The business’s 50-day moving average is $38.54 and its 200-day moving average is $34.61.

Tortoise Pipeline & Energy Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 5.69%.

Tortoise Pipeline & Energy Fund Company Profile

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.