Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Tortoise North American Pipeline Fund (NYSEARCA:TPYP) saw strong trading volume on Friday . 173,060 shares changed hands during mid-day trading, an increase of 211% from the previous session’s volume of 55,675 shares.The stock last traded at $34.64 and had previously closed at $34.71.

Tortoise North American Pipeline Fund Price Performance

The company has a market cap of $684.82 million, a P/E ratio of 18.76 and a beta of 1.09. The company has a fifty day simple moving average of $35.68 and a 200-day simple moving average of $35.24.

Hedge Funds Weigh In On Tortoise North American Pipeline Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its position in Tortoise North American Pipeline Fund by 0.7% during the 3rd quarter. CWM LLC now owns 261,301 shares of the company’s stock worth $9,524,000 after purchasing an additional 1,753 shares in the last quarter. ARS Investment Partners LLC grew its position in Tortoise North American Pipeline Fund by 12.8% during the 3rd quarter. ARS Investment Partners LLC now owns 38,690 shares of the company’s stock worth $1,410,000 after purchasing an additional 4,388 shares in the last quarter. Private Trust Co. NA purchased a new position in Tortoise North American Pipeline Fund during the 3rd quarter worth approximately $168,000. Arvest Investments Inc. grew its position in Tortoise North American Pipeline Fund by 2.3% during the 3rd quarter. Arvest Investments Inc. now owns 423,742 shares of the company’s stock worth $15,445,000 after purchasing an additional 9,374 shares in the last quarter. Finally, Financial Enhancement Group LLC grew its position in Tortoise North American Pipeline Fund by 4.9% during the 3rd quarter. Financial Enhancement Group LLC now owns 80,415 shares of the company’s stock worth $2,913,000 after purchasing an additional 3,730 shares in the last quarter.

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.