Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Large Volume Increase – Here’s Why

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw unusually-high trading volume on Wednesday . Approximately 335,607 shares changed hands during mid-day trading, an increase of 496% from the previous session’s volume of 56,306 shares.The stock last traded at $42.1710 and had previously closed at $42.06.

Tortoise North American Pipeline Fund Price Performance

The firm’s 50 day simple moving average is $39.37 and its 200-day simple moving average is $36.81. The company has a market cap of $850.64 million, a price-to-earnings ratio of 18.76 and a beta of 0.73.

Institutional Trading of Tortoise North American Pipeline Fund

A number of large investors have recently made changes to their positions in TPYP. Kestra Advisory Services LLC acquired a new position in Tortoise North American Pipeline Fund during the fourth quarter worth approximately $46,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Tortoise North American Pipeline Fund in the fourth quarter valued at approximately $53,000. Private Trust Co. NA purchased a new position in shares of Tortoise North American Pipeline Fund during the third quarter worth approximately $168,000. Advisory Services Network LLC purchased a new position in shares of Tortoise North American Pipeline Fund during the third quarter worth approximately $174,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of Tortoise North American Pipeline Fund in the 3rd quarter valued at $182,000.

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.