Tortoise Pipeline & Energy Fund (NYSE:TTP) Stock Passes Above 200-Day Moving Average of $28.77

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $28.77 and traded as high as $30.57. Tortoise Pipeline & Energy Fund shares last traded at $30.45, with a volume of 6,741 shares.

Tortoise Pipeline & Energy Fund Stock Performance

The business’s 50-day moving average is $30.36 and its 200 day moving average is $28.81.

Tortoise Pipeline & Energy Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 7.46%. The ex-dividend date of this dividend was Wednesday, February 21st.

Hedge Funds Weigh In On Tortoise Pipeline & Energy Fund

Hedge funds have recently bought and sold shares of the company. Comerica Bank bought a new position in Tortoise Pipeline & Energy Fund in the 3rd quarter valued at about $50,000. UBS Group AG grew its holdings in shares of Tortoise Pipeline & Energy Fund by 89.3% during the 2nd quarter. UBS Group AG now owns 2,483 shares of the investment management company’s stock valued at $62,000 after purchasing an additional 1,171 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. grew its holdings in shares of Tortoise Pipeline & Energy Fund by 9.8% during the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 4,268 shares of the investment management company’s stock valued at $120,000 after purchasing an additional 380 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Tortoise Pipeline & Energy Fund by 32.4% during the 2nd quarter. Osaic Holdings Inc. now owns 4,905 shares of the investment management company’s stock valued at $134,000 after purchasing an additional 1,200 shares during the last quarter. Finally, D.A. Davidson & CO. bought a new stake in shares of Tortoise Pipeline & Energy Fund during the 1st quarter valued at approximately $203,000.

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.