Trading was heavy with 225K shares changing hands by the end of trading on Tuesday. Volume was up 176.30% over the stocks average daily volume.
Investors are more bearish on shares of the company as implied by the uptick in short interest. The firm experienced a rise in short interest from September 29, 2017 to October 13, 2017 of 122.59%. Short interest increased from 10,271 to 22,862 over that timeframe. With short interest at 22,862 and short average daily volume at 28,464, the short-interest ratio is 1.0 and the percentage of shorted shares is 0.00% as of October 13.
The following firms have recently changed their position in TTP. Hightower Advisors, LLC bolstered its ownership by buying 109 shares an increase of 0.3% from 06/30/2017 to 09/30/2017. Hightower Advisors, LLC now controls 40,644 shares with a value of $782,000. The value of the position overall is down by 0.1%. As of quarter end Thomas J. Herzfeld Advisors, Inc. had acquired a total of 42,846 shares growing its holdings by 26.7%. The value of the investment in Tortoise Pipeline & Energy Fund went from $3,124,000 to $3,920,000 increasing 25.5% for the reporting period.
Invesco Ltd. grew its stake by buying 3,301 shares an increase of 2.0% in the quarter. Invesco Ltd. controls 170,161 shares worth $3,277,000. The total value of its holdings increased 1.0%. Ubs Group Ag divested its investment by selling 95,718 shares a decrease of 42.8%. Ubs Group Ag claims 128,101 shares valued at $2,467,000. The value of the position overall is down by 43.3%.
The company is now up by 1.83% percent from yesterday’s close. The P/E ratio is N/A and the market cap is 164.07M.
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. It employs a fundamental analysis with a bottom up stock picking approach with focus on factors like comparison of quantitative, qualitative, and relative value factors to create its portfolio. Tortoise Pipeline & Energy Fund, Inc. was formed on July 19, 2011 and is domiciled in the United States..