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Tortoise Pipeline & Energy Fund is a closed-end management investment company. The Fund's investment objective is to seek high total return with an emphasis on current distributions paid to stockholders. The Fund invests primarily in equity securities of North American pipeline companies that transport natural gas, natural gas liquids, crude oil and refined products and, to a lesser extent, in other energy infrastructure companies. According to our TTP split history records, Tortoise Pipeline and Energy Fund has had 1 split.
TTP split history picture
Tortoise Pipeline and Energy Fund (TTP) has 1 split in our TTP split history database. The split for TTP took place on May 01, 2020. This was a 1 for 4 reverse split, meaning for each 4 shares of TTP owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 250 share position following the split.

When a company such as Tortoise Pipeline and Energy Fund conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the TTP split history from start to finish, an original position size of 1000 shares would have turned into 250 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Tortoise Pipeline and Energy Fund shares, starting with a $10,000 purchase of TTP, presented on a split-history-adjusted basis factoring in the complete TTP split history. TTP split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 04/25/2014
End date: 04/23/2024
Start price/share: $125.20
End price/share: $32.25
Starting shares: 79.87
Ending shares: 176.43
Dividends reinvested/share: $45.96
Total return: -43.10%
Average Annual Total Return: -5.48%
Starting investment: $10,000.00
Ending investment: $5,690.76
Years: 10.00
Growth of $10,000.00
Without Dividends Reinvested

Start date: 04/25/2014
End date: 04/23/2024
Start price/share: $125.20
End price/share: $32.25
Dividends collected/share: $45.96
Total return: -37.53%
Average Annual Total Return: -4.60%
Starting investment: $10,000.00
Ending investment: $6,243.49
Years: 10.00
Date Ratio
05/01/20201 for 4
TTP is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:

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