Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Announces $0.07 Monthly Dividend

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) declared a monthly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Thursday, February 27th will be given a dividend of 0.0679 per share by the investment management company on Friday, February 28th. This represents a $0.81 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, February 27th.

Tortoise Power and Energy Infrastructure Fund Trading Down 1.0 %

NYSE:TPZ opened at $20.38 on Friday. Tortoise Power and Energy Infrastructure Fund has a 52 week low of $14.50 and a 52 week high of $22.30. The firm has a 50-day moving average price of $20.92 and a two-hundred day moving average price of $19.64.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.09, for a total value of $20,090,000.00. Following the transaction, the insider now directly owns 11,234 shares of the company’s stock, valued at approximately $225,691.06. The trade was a 98.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tortoise Power and Energy Infrastructure Fund Company Profile

Tortoise Power and Energy Infrastructure Fund, Inc is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors, LLC. The fund invests in the fixed income and public equity markets of the United States. It invests in securities of companies operating in the power and energy infrastructure sectors.