Tortoise North American Pipeline Fund (NYSEARCA:TPYP) Hits New 52-Week High – Time to Buy?

Tortoise North American Pipeline Fund (NYSEARCA:TPYP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $33.63 and last traded at $33.63, with a volume of 302 shares. The stock had previously closed at $33.02.

Tortoise North American Pipeline Fund Trading Up 2.6 %

The firm’s 50-day simple moving average is $31.95 and its two-hundred day simple moving average is $30.02. The stock has a market capitalization of $657.27 million, a PE ratio of 18.59 and a beta of 0.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TPYP. Foster & Motley Inc. grew its stake in 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 valued at $22,263,000 after acquiring an additional 2,013 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Tortoise North American Pipeline Fund by 5.4% in the third quarter. Janney Montgomery Scott LLC now owns 113,255 shares of the company’s stock worth $3,554,000 after purchasing an additional 5,760 shares in the last quarter. Battery Global Advisors LLC acquired a new stake in shares of Tortoise North American Pipeline Fund during the second quarter worth approximately $1,972,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Tortoise North American Pipeline Fund during the second quarter valued at approximately $155,000.

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.