Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Down 80.2% in July

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 5,158 shares, a decline of 80.2% from the July 15th total of 26,006 shares. Based on an average daily volume of 10,905 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several hedge funds and other institutional investors have recently made changes to their positions in TPZ. Sound Income Strategies LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund during the first quarter valued at $31,000. JPMorgan Chase & Co. grew its stake in shares of Tortoise Power and Energy Infrastructure Fund by 233.8% in the second quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock worth $160,000 after acquiring an additional 5,463 shares during the last quarter. Breakwater Capital Group bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the first quarter valued at $204,000. Walleye Capital LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth about $213,000. Finally, First Trust Advisors LP raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% in the 3rd 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 during the last quarter.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.6%

NYSE:TPZ traded down $0.12 during mid-day trading on Thursday, hitting $21.51. 13,455 shares of the company’s stock were exchanged, compared to its average volume of 12,519. Tortoise Power and Energy Infrastructure Fund has a one year low of $19.93 and a one year high of $23.03. The business has a fifty day moving average price of $21.80 and a 200 day moving average price of $21.97.

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.