TORTOISE PIPELI/COM (TTP) Insider Acquires $75,000.00 in Stock

TORTOISE PIPELI/COM (NYSE:TTP) insider Sunil Bhonsle acquired 300,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The shares were purchased at an average price of $0.25 per share, with a total value of $75,000.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

NYSE TTP opened at $17.20 on Wednesday. TORTOISE PIPELI/COM has a 52 week low of $15.55 and a 52 week high of $20.21.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 24th were issued a dividend of $0.407 per share. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $1.63 annualized dividend and a dividend yield of 9.47%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mariner LLC increased its holdings in shares of TORTOISE PIPELI/COM by 3.7% during the first quarter. Mariner LLC now owns 93,998 shares of the investment management company’s stock valued at $1,507,000 after acquiring an additional 3,346 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of TORTOISE PIPELI/COM by 26.9% during the second quarter. Oppenheimer & Co. Inc. now owns 43,557 shares of the investment management company’s stock valued at $748,000 after acquiring an additional 9,227 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of TORTOISE PIPELI/COM during the second quarter valued at approximately $347,000. First Trust Advisors LP bought a new stake in shares of TORTOISE PIPELI/COM during the second quarter valued at approximately $971,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of TORTOISE PIPELI/COM during the second quarter valued at approximately $723,000.

About TORTOISE PIPELI/COM

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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