Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Trading Down 1.9% – Should You Sell?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shares fell 1.9% during trading on Monday . The stock traded as low as $34.91 and last traded at $34.97. 32,619 shares were traded during mid-day trading, a decline of 53% from the average session volume of 69,382 shares. The stock had previously closed at $35.65.

Tortoise North American Pipeline Fund Stock Performance

The company has a 50-day simple moving average of $33.97 and a two-hundred day simple moving average of $31.27. The firm has a market capitalization of $678.35 million, a P/E ratio of 18.59 and a beta of 0.50.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of institutional investors have recently added to or reduced their stakes in the company. Battery Global Advisors LLC purchased a new stake in shares of Tortoise North American Pipeline Fund in the 2nd quarter worth about $1,972,000. Flow Traders U.S. LLC purchased a new stake in Tortoise North American Pipeline Fund in the third quarter worth about $592,000. Janney Montgomery Scott LLC increased its stake in shares of Tortoise North American Pipeline Fund by 5.4% during the third quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock valued at $3,554,000 after purchasing an additional 5,760 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new position in shares of Tortoise North American Pipeline Fund during the second quarter valued at approximately $155,000. Finally, Captrust Financial Advisors boosted its position in shares of Tortoise North American Pipeline Fund by 10.1% in the 3rd quarter. Captrust Financial Advisors now owns 40,403 shares of the company’s stock worth $1,268,000 after purchasing an additional 3,695 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.