TORTOISE PIPELI/COM (TTP) Reaches New 52-Week Low at $13.60

TORTOISE PIPELI/COM (NYSE:TTP) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $13.60 and last traded at $13.83, with a volume of 700 shares traded. The stock had previously closed at $14.51.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 23rd were given a dividend of $0.407 per share. This represents a $1.63 dividend on an annualized basis and a yield of 11.61%. The ex-dividend date was Wednesday, November 21st.

In related news, insider Sunil Bhonsle acquired 300,000 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The stock was purchased at an average price of $0.25 per share, for a total transaction of $75,000.00. The purchase was disclosed in a document filed with the SEC, which is available at this link.

A number of institutional investors have recently bought and sold shares of the stock. Morgan Stanley increased its position in TORTOISE PIPELI/COM by 11.1% during the 3rd quarter. Morgan Stanley now owns 264,854 shares of the investment management company’s stock worth $4,582,000 after purchasing an additional 26,368 shares in the last quarter. Lincoln National Corp increased its position in TORTOISE PIPELI/COM by 6.1% during the 3rd quarter. Lincoln National Corp now owns 164,794 shares of the investment management company’s stock worth $2,851,000 after purchasing an additional 9,493 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in TORTOISE PIPELI/COM by 10.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 47,944 shares of the investment management company’s stock worth $829,000 after purchasing an additional 4,387 shares in the last quarter. First Trust Advisors LP increased its position in TORTOISE PIPELI/COM by 34.3% during the 3rd quarter. First Trust Advisors LP now owns 76,000 shares of the investment management company’s stock worth $1,315,000 after purchasing an additional 19,399 shares in the last quarter. Finally, IFP Advisors Inc increased its position in TORTOISE PIPELI/COM by 94.3% during the 3rd quarter. IFP Advisors Inc now owns 34,098 shares of the investment management company’s stock worth $590,000 after purchasing an additional 16,546 shares in the last quarter.

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About TORTOISE PIPELI/COM (NYSE:TTP)

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.

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