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

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.14 and traded as high as $47.70. Tortoise Pipeline & Energy Fund shares last traded at $47.61, with a volume of 4,204 shares traded.

Tortoise Pipeline & Energy Fund Price Performance

The stock’s 50 day moving average price is $48.70 and its 200 day moving average price is $43.14.

Tortoise Pipeline & Energy Fund Announces Dividend

The firm also recently declared a — dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a yield of 4.6%.

Hedge Funds Weigh In On Tortoise Pipeline & Energy Fund

Several institutional investors have recently added to or reduced their stakes in TTP. Quarry LP bought a new stake in Tortoise Pipeline & Energy Fund in the 3rd quarter valued at about $110,000. Bayshore Asset Management LLC bought a new stake in Tortoise Pipeline & Energy Fund during the 3rd quarter valued at $227,000. Concorde Asset Management LLC acquired a new position in Tortoise Pipeline & Energy Fund during the second quarter worth $384,000. D.A. Davidson & CO. lifted its stake in shares of Tortoise Pipeline & Energy Fund by 30.4% in the third quarter. D.A. Davidson & CO. now owns 22,327 shares of the investment management company’s stock valued at $942,000 after buying an additional 5,206 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Tortoise Pipeline & Energy Fund by 10.6% during the third quarter. Rockefeller Capital Management L.P. now owns 27,929 shares of the investment management company’s stock valued at $1,179,000 after buying an additional 2,683 shares during the last quarter.

About Tortoise Pipeline & Energy Fund

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.