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

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) was the target of a significant increase in short interest during the month of 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 trading volume of 9,500 shares, the short-interest ratio is currently 0.5 days.

Tortoise Pipeline & Energy Fund Price Performance

Tortoise Pipeline & Energy Fund stock opened at $44.83 on Monday. The company’s 50 day simple moving average is $41.72 and its 200-day simple moving average is $36.56. Tortoise Pipeline & Energy Fund has a 1 year low of $26.43 and a 1 year high of $44.83.

Tortoise Pipeline & Energy Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blue Bell Private Wealth Management LLC boosted its holdings in Tortoise Pipeline & Energy Fund by 115.6% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 2,372 shares of the investment management company’s stock valued at $86,000 after acquiring 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 approximately $213,000. Matisse Capital acquired a new position in shares of Tortoise Pipeline & Energy Fund in the first quarter valued at approximately $245,000. Concorde Asset Management LLC purchased a new stake in Tortoise Pipeline & Energy Fund during the 2nd quarter worth approximately $384,000. Finally, Quarry LP acquired a new stake in Tortoise Pipeline & Energy Fund during the 4th quarter worth 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.