1607 Capital Partners LLC Takes Position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

1607 Capital Partners LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) during the 4th quarter, Holdings Channel reports. The fund purchased 75,319 shares of the investment management company’s stock, valued at approximately $1,511,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bard Associates Inc. grew its stake in Tortoise Power and Energy Infrastructure Fund by 134.3% in the 4th quarter. Bard Associates Inc. now owns 473,321 shares of the investment management company’s stock worth $9,509,000 after acquiring an additional 271,266 shares in the last quarter. Aristides Capital LLC boosted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 1,652.8% in the fourth quarter. Aristides Capital LLC now owns 317,062 shares of the investment management company’s stock valued at $6,362,000 after purchasing an additional 298,973 shares during the period. Yakira Capital Management Inc. grew its stake in Tortoise Power and Energy Infrastructure Fund by 568.5% in the fourth quarter. Yakira Capital Management Inc. now owns 315,711 shares of the investment management company’s stock worth $6,335,000 after purchasing an additional 268,485 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth $2,907,000. Finally, Advisors Asset Management Inc. raised its position in Tortoise Power and Energy Infrastructure Fund by 86.2% during the 4th quarter. Advisors Asset Management Inc. now owns 121,955 shares of the investment management company’s stock valued at $2,447,000 after purchasing an additional 56,453 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.6 %

Shares of TPZ stock opened at $19.18 on Wednesday. Tortoise Power and Energy Infrastructure Fund, Inc. has a twelve month low of $14.70 and a twelve month high of $22.30. The stock has a fifty day simple moving average of $20.25 and a two-hundred day simple moving average of $20.10.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 27th were paid a $0.0679 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend was Thursday, February 27th.

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.