Short Interest in Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Expands By 70.4%

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 4,600 shares, an increase of 70.4% from the September 15th total of 2,700 shares. Based on an average daily volume of 9,500 shares, the days-to-cover ratio is currently 0.5 days.

Tortoise Pipeline & Energy Fund Price Performance

Shares of NYSE:TTP opened at $44.83 on Friday. The stock’s 50-day simple moving average is $41.72 and its two-hundred day simple moving average is $36.48. Tortoise Pipeline & Energy Fund has a 52-week low of $26.43 and a 52-week high of $44.83.

Tortoise Pipeline & Energy Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend was Friday, August 23rd.

Institutional Trading of Tortoise Pipeline & Energy Fund

Several hedge funds have recently bought and sold shares of TTP. Blue Bell Private Wealth Management LLC boosted its position in shares of Tortoise Pipeline & Energy Fund by 115.6% in 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. J.W. Cole Advisors Inc. purchased a new position in shares of Tortoise Pipeline & Energy Fund in the first quarter valued at about $213,000. Matisse Capital bought a new position in shares of Tortoise Pipeline & Energy Fund in the first quarter worth about $245,000. Concorde Asset Management LLC purchased a new stake in shares of Tortoise Pipeline & Energy Fund during the second quarter worth about $384,000. Finally, Quarry LP bought a new stake in Tortoise Pipeline & Energy Fund during the 4th quarter valued at approximately $512,000.

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.