J.W. Cole Advisors Inc. Takes Position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

J.W. Cole Advisors Inc. purchased a new stake in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,400 shares of the investment management company’s stock, valued at approximately $174,000.

Other institutional investors have also made changes to their positions in the company. Saba Capital Management L.P. increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 7.3% in the 3rd quarter. Saba Capital Management L.P. now owns 177,876 shares of the investment management company’s stock valued at $2,376,000 after acquiring an additional 12,105 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. lifted its holdings in Tortoise Power and Energy Infrastructure Fund by 14.5% during the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 208,471 shares of the investment management company’s stock valued at $2,785,000 after purchasing an additional 26,347 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 5.6% during the third quarter. D.A. Davidson & CO. now owns 30,173 shares of the investment management company’s stock worth $403,000 after buying an additional 1,599 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Price Performance

TPZ opened at $15.16 on Friday. Tortoise Power and Energy Infrastructure Fund, Inc. has a fifty-two week low of $12.45 and a fifty-two week high of $15.80. The stock has a fifty day moving average of $15.05 and a 200-day moving average of $14.20.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 23rd will be issued a dividend of $0.105 per share. This represents a $1.26 annualized dividend and a dividend yield of 8.31%. The ex-dividend date of this dividend is Monday, April 22nd.

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.