Tortoise Pipeline & Energy Fund (NYSE:TTP) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.69 and traded as high as $44.68. Tortoise Pipeline & Energy Fund shares last traded at $44.43, with a volume of 1,197 shares trading hands.

Tortoise Pipeline & Energy Fund Price Performance

The business has a 50-day simple moving average of $43.01 and a two-hundred day simple moving average of $37.74.

Tortoise Pipeline & Energy Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date was Friday, August 23rd.

Institutional Trading of Tortoise Pipeline & Energy Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Almitas Capital LLC boosted its stake in Tortoise Pipeline & Energy Fund by 0.7% in the 2nd quarter. Almitas Capital LLC now owns 116,622 shares of the investment management company’s stock worth $4,219,000 after purchasing an additional 867 shares during the period. Allspring Global Investments Holdings LLC increased its position in Tortoise Pipeline & Energy Fund by 16.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 34,715 shares of the investment management company’s stock worth $1,465,000 after buying an additional 4,859 shares during the period. Concorde Asset Management LLC acquired a new stake in Tortoise Pipeline & Energy Fund in the 2nd quarter worth about $384,000. Matisse Capital bought a new stake in Tortoise Pipeline & Energy Fund in the 1st quarter valued at about $245,000. Finally, J.W. Cole Advisors Inc. acquired a new position in shares of Tortoise Pipeline & Energy Fund during the 1st quarter worth approximately $213,000.

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.