Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Stock Price Down 0.7% – What’s Next?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s share price dropped 0.7% during mid-day trading on Thursday . The company traded as low as $42.36 and last traded at $42.36. Approximately 110,928 shares traded hands during trading, an increase of 11% from the average daily volume of 99,507 shares. The stock had previously closed at $42.65.

Tortoise North American Pipeline Fund Stock Performance

The firm has a market cap of $872.62 million, a price-to-earnings ratio of 18.76 and a beta of 0.55. The business’s 50-day moving average is $42.28 and its 200-day moving average is $39.66.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

A number of hedge funds have recently made changes to their positions in the company. FAS Wealth Partners Inc. increased its position in shares of Tortoise North American Pipeline Fund by 1.6% during the 1st quarter. FAS Wealth Partners Inc. now owns 110,724 shares of the company’s stock worth $4,690,000 after purchasing an additional 1,698 shares in the last quarter. Royal Bank of Canada increased its position in shares of Tortoise North American Pipeline Fund by 16.6% during the 1st quarter. Royal Bank of Canada now owns 113,017 shares of the company’s stock worth $4,788,000 after purchasing an additional 16,090 shares in the last quarter. Bollard Group LLC increased its position in shares of Tortoise North American Pipeline Fund by 1.7% during the 1st quarter. Bollard Group LLC now owns 70,058 shares of the company’s stock worth $2,968,000 after purchasing an additional 1,197 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Tortoise North American Pipeline Fund by 5.6% during the 1st quarter. Cetera Investment Advisers now owns 17,513 shares of the company’s stock worth $742,000 after purchasing an additional 932 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. increased its position in shares of Tortoise North American Pipeline Fund by 4.1% during the 1st quarter. Marshall & Sterling Wealth Advisors Inc. now owns 100,229 shares of the company’s stock worth $4,246,000 after purchasing an additional 3,936 shares in the last quarter.

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.