Thomas J. Herzfeld Advisors buys $3,753,228 stake in Tortoise Pipeline and Energy Fund Inc (TTP)

Tortoise Pipeline and Energy Fund Inc (TTP) : Thomas J. Herzfeld Advisors scooped up 10,552 additional shares in Tortoise Pipeline and Energy Fund Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 191,296 shares of Tortoise Pipeline and Energy Fund Inc which is valued at $3,753,228.Tortoise Pipeline and Energy Fund Inc makes up approximately 1.90% of Thomas J. Herzfeld Advisors’s portfolio.

Other Hedge Funds, Including , Raymond James Associates reduced its stake in TTP by selling 3,041 shares or 4.86% in the most recent quarter. The Hedge Fund company now holds 59,521 shares of TTP which is valued at $1,167,802.Freestone Capital Holdings boosted its stake in TTP in the latest quarter, The investment management firm added 26,279 additional shares and now holds a total of 44,618 shares of Tortoise Pipeline and Energy Fund Inc which is valued at $875,405. Tortoise Pipeline and Energy Fund Inc makes up approx 0.08% of Freestone Capital Holdings’s portfolio.Cardan Capital Partners reduced its stake in TTP by selling 3,418 shares or 16.13% in the most recent quarter. The Hedge Fund company now holds 17,767 shares of TTP which is valued at $331,532. Tortoise Pipeline and Energy Fund Inc makes up approx 0.08% of Cardan Capital Partners’s portfolio. K.j. Harrison Partners Inc sold out all of its stake in TTP during the most recent quarter. The investment firm sold 28,000 shares of TTP which is valued $522,480.

Tortoise Pipeline & Energy Fund Inc. is a non-diversified closed-end management investment fund which invests in equity securities of pipeline companies that transport natural gas natural gas liquids (NGLs) crude oil and refined products and other energy infrastructure companies. The Fund’s objective is to seek a high level of total return with an emphasis on current distributions. It invests at least 80% of its total assets (including assets obtained through leverage) in equity securities of pipeline and other energy infrastructure companies. It may invest up to 30% of its total assets in unregistered or restricted securities through direct investments and will not invest in private companies. It may invest up to 20% of its total assets in debt securities including those rated below investment grade. It will not invest more than 10% of its total assets in any single issuer and will not engage in short sales. Tortoise Capital Advisors L.L.C. is the Fund’s investment adviser.

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