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

Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw unusually-high trading volume on Friday . Approximately 129,733 shares were traded during mid-day trading, an increase of 99% from the previous session’s volume of 65,307 shares.The stock last traded at $33.15 and had previously closed at $35.72.

Tortoise North American Pipeline Fund Stock Down 8.1 %

The firm has a market capitalization of $675.89 million, a price-to-earnings ratio of 19.95 and a beta of 1.10. The company has a fifty day moving average price of $35.61 and a two-hundred day moving average price of $34.63.

Tortoise North American Pipeline Fund Increases Dividend

The firm also recently disclosed a dividend, which was paid on Friday, March 28th. Shareholders of record on Thursday, March 27th were paid a $0.355 dividend. The ex-dividend date was Thursday, March 27th. This is a positive change from Tortoise North American Pipeline Fund’s previous dividend of $0.34.

Institutional Investors Weigh In On Tortoise North American Pipeline Fund

Large investors have recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in shares of Tortoise North American Pipeline Fund by 12.7% in the fourth quarter. Captrust Financial Advisors now owns 45,548 shares of the company’s stock valued at $1,553,000 after acquiring an additional 5,145 shares in the last quarter. Private Trust Co. NA acquired a new position in Tortoise North American Pipeline Fund during the 4th quarter worth approximately $157,000. Baird Financial Group Inc. raised its stake in shares of Tortoise North American Pipeline Fund by 87.0% during the 4th quarter. Baird Financial Group Inc. now owns 8,271 shares of the company’s stock worth $282,000 after buying an additional 3,849 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Tortoise North American Pipeline Fund during the 4th quarter worth approximately $38,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Tortoise North American Pipeline Fund in the 4th quarter valued at approximately $31,000.

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.