Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Position Reduced by Concorde Asset Management LLC

Concorde Asset Management LLC trimmed its stake in shares of Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) by 27.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,700 shares of the investment management company’s stock after selling 2,900 shares during the quarter. Concorde Asset Management LLC’s holdings in Tortoise Pipeline & Energy Fund were worth $325,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Almitas Capital LLC boosted its stake in Tortoise Pipeline & Energy Fund by 0.7% during the 2nd quarter. Almitas Capital LLC now owns 116,622 shares of the investment management company’s stock valued at $4,219,000 after acquiring an additional 867 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Tortoise Pipeline & Energy Fund by 16.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 34,715 shares of the investment management company’s stock worth $1,465,000 after purchasing an additional 4,859 shares during the period. Bayshore Asset Management LLC acquired a new stake in shares of Tortoise Pipeline & Energy Fund during the third quarter worth $227,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in shares of Tortoise Pipeline & Energy Fund by 115.6% during the second quarter. Blue Bell Private Wealth Management LLC now owns 2,372 shares of the investment management company’s stock worth $86,000 after purchasing an additional 1,272 shares during the period.

Tortoise Pipeline & Energy Fund Stock Up 2.1 %

TTP stock opened at $51.94 on Friday. Tortoise Pipeline & Energy Fund, Inc. has a fifty-two week low of $26.43 and a fifty-two week high of $52.03. The firm’s 50-day simple moving average is $45.10 and its 200 day simple moving average is $39.52.

Tortoise Pipeline & Energy Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a $0.59 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.54%.

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.