Insider Buying: Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Director Acquires 2,000 Shares of Stock

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Director Andrew Iseman bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $21.20 per share, for a total transaction of $42,400.00. Following the purchase, the director directly owned 2,000 shares in the company, valued at $42,400. This trade represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tortoise Power and Energy Infrastructure Fund Stock Performance

NYSE TPZ traded up $0.28 on Friday, reaching $21.10. The company had a trading volume of 12,730 shares, compared to its average volume of 41,935. The firm’s 50 day moving average price is $21.02 and its 200 day moving average price is $20.53. Tortoise Power and Energy Infrastructure Fund, Inc. has a 12 month low of $17.50 and a 12 month high of $22.30.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its holdings in Tortoise Power and Energy Infrastructure Fund by 19.4% during the 3rd quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock valued at $266,000 after buying an additional 2,059 shares during the period. Uhlmann Price Securities LLC raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% in the third quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock valued at $1,578,000 after acquiring an additional 21,418 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Tortoise Power and Energy Infrastructure Fund by 2.0% in the 3rd quarter. D.A. Davidson & CO. now owns 132,373 shares of the investment management company’s stock worth $2,781,000 after purchasing an additional 2,631 shares during the period. Breakthru Advisory Services LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the third quarter valued at about $7,889,000. Finally, Osaic Holdings Inc. lifted its position in Tortoise Power and Energy Infrastructure Fund by 7.1% during the second quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock valued at $547,000 after acquiring an additional 1,771 shares during the last quarter.

About Tortoise Power and Energy Infrastructure Fund

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.