Tortoise Pipeline & Energy Fund (NYSE:TTP) Stock Passes Above 200-Day Moving Average of $28.77

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.77 and traded as high as $30.57. Tortoise Pipeline & Energy Fund shares last traded at $30.45, with a volume of 6,741 shares.

Tortoise Pipeline & Energy Fund Price Performance

The company’s 50-day simple moving average is $30.36 and its 200-day simple moving average is $28.81.

Tortoise Pipeline & Energy Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 7.46%. The ex-dividend date was Wednesday, February 21st.

Institutional Investors Weigh In On Tortoise Pipeline & Energy Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new position in Tortoise Pipeline & Energy Fund during the 1st quarter worth $341,000. D.A. Davidson & CO. acquired a new position in Tortoise Pipeline & Energy Fund during the 1st quarter worth $203,000. Royal Bank of Canada lifted its position in Tortoise Pipeline & Energy Fund by 15.7% during the 1st quarter. Royal Bank of Canada now owns 12,867 shares of the investment management company’s stock worth $377,000 after acquiring an additional 1,750 shares during the last quarter. Cannell Capital LLC lifted its position in Tortoise Pipeline & Energy Fund by 19.9% during the 1st quarter. Cannell Capital LLC now owns 44,900 shares of the investment management company’s stock worth $1,316,000 after acquiring an additional 7,461 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Tortoise Pipeline & Energy Fund by 8.8% during the 1st quarter. Bank of America Corp DE now owns 11,725 shares of the investment management company’s stock worth $344,000 after acquiring an additional 950 shares during the last quarter.

Tortoise Pipeline & Energy Fund Company Profile

Tortoise Pipeline & Energy Fund, Inc is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors, LLC. It invests in public equity markets of North America. The fund invests in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil, and refined petroleum products.