Short Interest in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Rises By 77.9%

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a significant increase in short interest in May. As of May 15th, there was short interest totaling 24,411 shares, an increase of 77.9% from the April 30th total of 13,721 shares. Based on an average daily trading volume, of 9,777 shares, the short-interest ratio is currently 2.5 days. Approximately 0.4% of the company’s shares are sold short.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

A number of large investors have recently modified their holdings of the company. Sound Income Strategies LLC bought a new position in Tortoise Power and Energy Infrastructure Fund during the 1st quarter worth about $31,000. JPMorgan Chase & Co. increased its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock valued at $160,000 after acquiring an additional 5,463 shares during the period. Breakwater Capital Group bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 1st quarter worth $204,000. Walleye Capital LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the second quarter valued at about $213,000. Finally, First Trust Advisors LP raised its holdings in Tortoise Power and Energy Infrastructure Fund by 19.4% in the third quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock worth $266,000 after purchasing an additional 2,059 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.5%

NYSE:TPZ opened at $21.61 on Tuesday. The firm’s 50-day moving average price is $22.14 and its 200-day moving average price is $21.56. Tortoise Power and Energy Infrastructure Fund has a 1-year low of $19.64 and a 1-year high of $23.03.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 26th were paid a dividend of $0.2035 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.81 dividend on an annualized basis and a dividend yield of 3.8%.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.