Commonwealth Equity Services LLC Reduces Position in Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP)

Commonwealth Equity Services LLC trimmed its position in Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) by 41.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 61,521 shares of the investment management company’s stock after selling 43,016 shares during the period. Commonwealth Equity Services LLC’s holdings in Tortoise Pipeline & Energy Fund were worth $1,945,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC boosted its holdings in Tortoise Pipeline & Energy Fund by 13,650.0% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 1,100 shares of the investment management company’s stock valued at $35,000 after purchasing an additional 1,092 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Tortoise Pipeline & Energy Fund by 2,710.9% in the 4th quarter. International Assets Investment Management LLC now owns 9,529 shares of the investment management company’s stock valued at $268,000 after purchasing an additional 9,190 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in Tortoise Pipeline & Energy Fund by 78.3% in the 4th quarter. Wolverine Asset Management LLC now owns 26,392 shares of the investment management company’s stock valued at $742,000 after purchasing an additional 11,591 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Tortoise Pipeline & Energy Fund by 12.9% in the 4th quarter. D.A. Davidson & CO. now owns 15,694 shares of the investment management company’s stock valued at $441,000 after purchasing an additional 1,799 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Tortoise Pipeline & Energy Fund by 4.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 37,202 shares of the investment management company’s stock valued at $1,046,000 after purchasing an additional 1,625 shares during the last quarter.

Tortoise Pipeline & Energy Fund Stock Performance

NYSE:TTP traded up $0.68 on Friday, hitting $36.68. The stock had a trading volume of 2,223 shares, compared to its average volume of 7,528. The company has a fifty day moving average price of $34.03 and a two-hundred day moving average price of $31.16. Tortoise Pipeline & Energy Fund, Inc. has a 1-year low of $26.21 and a 1-year high of $37.72.

Tortoise Pipeline & Energy Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Thursday, June 27th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.36 annualized dividend and a dividend yield of 6.43%.

Tortoise Pipeline & Energy Fund 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.