Tortoise Pipeline & Energy Fund (NYSE:TTP) Shares Cross Above 200-Day Moving Average – Time to Sell?

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $38.63 and traded as high as $49.71. Tortoise Pipeline & Energy Fund shares last traded at $48.93, with a volume of 8,251 shares.

Tortoise Pipeline & Energy Fund Stock Up 0.7 %

The firm’s fifty day simple moving average is $43.95 and its 200-day simple moving average is $38.75.

Tortoise Pipeline & Energy Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be issued a $0.59 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.36 annualized dividend and a yield of 4.82%.

Institutional Trading of Tortoise Pipeline & Energy Fund

A number of large investors have recently made changes to their positions in the stock. Bayshore Asset Management LLC bought a new stake in shares of Tortoise Pipeline & Energy Fund in the third quarter worth approximately $227,000. Allspring Global Investments Holdings LLC grew its stake in shares of Tortoise Pipeline & Energy Fund by 16.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 34,715 shares of the investment management company’s stock worth $1,465,000 after acquiring an additional 4,859 shares during the period. Almitas Capital LLC grew its stake in shares of Tortoise Pipeline & Energy Fund by 0.7% in the second quarter. Almitas Capital LLC now owns 116,622 shares of the investment management company’s stock worth $4,219,000 after acquiring an additional 867 shares during the period. Concorde Asset Management LLC bought a new stake in shares of Tortoise Pipeline & Energy Fund in the second quarter worth approximately $384,000. Finally, Blue Bell Private Wealth Management LLC grew its stake 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 acquiring an additional 1,272 shares during the period.

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.