Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Hits New 52-Week High – Time to Buy?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $42.55 and last traded at $42.4670, with a volume of 12876 shares changing hands. The stock had previously closed at $42.16.

Tortoise North American Pipeline Fund Price Performance

The stock has a 50-day moving average price of $38.91 and a 200-day moving average price of $36.69. The company has a market capitalization of $841.31 million, a price-to-earnings ratio of 18.76 and a beta of 0.73.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

A number of institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its stake in shares of Tortoise North American Pipeline Fund by 16,369.0% during the first quarter. NewEdge Advisors LLC now owns 16,469 shares of the company’s stock worth $599,000 after purchasing an additional 16,369 shares during the period. Cetera Investment Advisers grew its holdings in Tortoise North American Pipeline Fund by 8.2% in the 2nd quarter. Cetera Investment Advisers now owns 13,000 shares of the company’s stock valued at $464,000 after buying an additional 986 shares in the last quarter. ARS Investment Partners LLC bought a new position in Tortoise North American Pipeline Fund during the 2nd quarter worth $1,226,000. Global Retirement Partners LLC bought a new position in Tortoise North American Pipeline Fund during the 2nd quarter worth $1,228,000. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Tortoise North American Pipeline Fund during the second quarter worth $317,000.

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.