Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Pass Above Fifty Day Moving Average – Should You Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $21.85 and traded as high as $22.43. Tortoise Power and Energy Infrastructure Fund shares last traded at $22.18, with a volume of 24,227 shares.

Tortoise Power and Energy Infrastructure Fund Trading Up 1.0%

The business has a 50-day moving average price of $21.85 and a two-hundred day moving average price of $21.22.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 26th were given a $0.2035 dividend. The ex-dividend date was Thursday, March 26th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 3.7%.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Large investors have recently bought and sold shares of the company. Breakthru Advisory Services LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at approximately $7,889,000. Focus Partners Wealth bought a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth $6,231,000. Evolve Private Wealth LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at $870,000. Uhlmann Price Securities LLC raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% during the 3rd quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock worth $1,578,000 after buying an additional 21,418 shares in the last quarter. Finally, OLD Mission Capital LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth $351,000.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund, Inc (NYSE: TPZ) is a closed-end management investment company that seeks total return through a mix of current income and capital appreciation. The fund pursues its objectives by investing primarily in exchange-listed closed-end funds that themselves hold securities of energy infrastructure companies. This fund-of-funds structure allows TPZ to offer diversified exposure to multiple segments of the energy infrastructure sector without directly purchasing individual corporate securities.

TPZ’s underlying investments include equity, debt and hybrid instruments issued by companies involved in the transportation, storage and processing of oil and natural gas, as well as utilities and power generation businesses.