Tortoise North American Pipeline Fund (NYSE:TPYP) Stock Short Interest Declines 86.7%

Tortoise North American Pipeline Fund (NYSE:TPYP) was the recipient of a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 44,864 shares, a decline of 86.7% from the October 15th total of 336,312 shares. Based on an average trading volume of 26,454 shares, the short-interest ratio is presently 1.7 days. Approximately 0.2% of the company’s shares are short sold.

Institutional Trading of Tortoise North American Pipeline Fund

Institutional investors have recently modified their holdings of the company. Magnus Financial Group LLC raised its holdings in Tortoise North American Pipeline Fund by 1.6% in the third quarter. Magnus Financial Group LLC now owns 876,917 shares of the company’s stock valued at $34,958,000 after buying an additional 13,421 shares during the period. Atwood & Palmer Inc. grew its stake in Tortoise North American Pipeline Fund by 0.5% during the second quarter. Atwood & Palmer Inc. now owns 670,333 shares of the company’s stock worth $28,107,000 after buying an additional 3,192 shares during the period. Foster & Motley Inc. purchased a new stake in Tortoise North American Pipeline Fund during the second quarter worth approximately $27,078,000. Arvest Investments Inc. grew its stake in Tortoise North American Pipeline Fund by 5.7% during the third quarter. Arvest Investments Inc. now owns 365,434 shares of the company’s stock worth $14,568,000 after buying an additional 19,688 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Tortoise North American Pipeline Fund by 1.0% in the second quarter. Parkside Financial Bank & Trust now owns 288,602 shares of the company’s stock worth $12,101,000 after acquiring an additional 2,797 shares in the last quarter.

Tortoise North American Pipeline Fund Trading Up 0.5%

NYSE:TPYP traded up $0.23 on Thursday, hitting $42.55. 20,241 shares of the stock were exchanged, compared to its average volume of 72,882. The stock has a market cap of $893.15 million, a PE ratio of 18.03 and a beta of 0.56. The stock has a fifty day moving average of $42.07 and a 200-day moving average of $42.01. Tortoise North American Pipeline Fund has a fifty-two week low of $34.56 and a fifty-two week high of $44.65.

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.