Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Large Volume Increase – Time to Buy?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) shares saw an uptick in trading volume on Wednesday . 228,375 shares traded hands during trading, an increase of 227% from the previous session’s volume of 69,870 shares.The stock last traded at $34.94 and had previously closed at $34.74.

Tortoise North American Pipeline Fund Price Performance

The stock has a 50-day moving average price of $34.15 and a 200 day moving average price of $31.37. The firm has a market cap of $673.57 million, a PE ratio of 18.59 and a beta of 0.50.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

A number of hedge funds have recently made changes to their positions in the stock. Foster & Motley Inc. grew its holdings in shares of Tortoise North American Pipeline Fund by 0.3% during the 3rd quarter. Foster & Motley Inc. now owns 709,480 shares of the company’s stock worth $22,263,000 after purchasing an additional 2,013 shares during the period. Icon Wealth Advisors LLC increased its position in shares of Tortoise North American Pipeline Fund by 0.6% in the third quarter. Icon Wealth Advisors LLC now owns 145,518 shares of the company’s stock worth $4,566,000 after acquiring an additional 800 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Tortoise North American Pipeline Fund by 5.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock valued at $3,554,000 after acquiring an additional 5,760 shares during the period. Battery Global Advisors LLC acquired a new position in shares of Tortoise North American Pipeline Fund during the 2nd quarter valued at $1,972,000. Finally, Captrust Financial Advisors boosted its position in Tortoise North American Pipeline Fund by 10.1% during 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 during the period.

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.