Tortoise North American Pipeline Fund (NYSE:TPYP) Shares Shorted: Short Interest Up 238.7% in October

Key Points

• Short interest surged 238.7% in October to 336,312 shares, equal to 1.6% of TPYP’s outstanding shares and 7.2 days of average trading volume.
• TPYP opened at $43.27, near its 52-week high of $44.65, with a market capitalization of approximately $908 million and a beta of 0.58.
• Several institutional investors increased their positions, while GK Wealth Management and Integrated Wealth Concepts initiated new stakes in the fund.

Tortoise North American Pipeline Fund (NYSE:TPYP - ) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 336,312 shares, an increase of 238.7% from the September 30th total of 99,291 shares. Based on an average daily volume of 46,918 shares, the short-interest ratio is presently 7.2 days. Currently, 1.6% of the company's shares are sold short.

Tortoise North American Pipeline Fund Price Performance

NYSE:TPYP opened at $43.27 on Thursday. The firm has a market capitalization of $908.24 million, a price-to-earnings ratio of 18.76 and a beta of 0.58. Tortoise North American Pipeline Fund has a 1 year low of $33.94 and a 1 year high of $44.65. The business has a 50 day simple moving average of $42.25 and a 200-day simple moving average of $41.69.

Institutional Trading of Tortoise North American Pipeline Fund

Several hedge funds and other institutional investors have recently bought and sold shares of TPYP. Allworth Financial LP lifted its stake in Tortoise North American Pipeline Fund by 5.5% in the second quarter. Allworth Financial LP now owns 7,771 shares of the company's stock worth $326,000 after purchasing an additional 406 shares during the last quarter. Heritage Oak Wealth Advisors LLC boosted its position in shares of Tortoise North American Pipeline Fund by 1.3% during the first quarter. Heritage Oak Wealth Advisors LLC now owns 32,899 shares of the company's stock valued at $1,394,000 after buying an additional 414 shares during the period. Sanctuary Advisors LLC grew its stake in shares of Tortoise North American Pipeline Fund by 0.9% during the first quarter. Sanctuary Advisors LLC now owns 70,255 shares of the company's stock valued at $2,976,000 after buying an additional 616 shares during the last quarter. GK Wealth Management LLC bought a new position in shares of Tortoise North American Pipeline Fund during the third quarter valued at approximately $30,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Tortoise North American Pipeline Fund during the second quarter valued at approximately $34,000.

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.

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