Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Update

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 13,721 shares, a growth of 230.5% from the April 15th total of 4,151 shares. Based on an average daily trading volume, of 11,186 shares, the short-interest ratio is currently 1.2 days. Approximately 0.2% of the company’s stock are short sold.

Tortoise Power and Energy Infrastructure Fund Trading Up 1.3%

TPZ stock traded up $0.28 during midday trading on Thursday, hitting $22.36. 4,494 shares of the company traded hands, compared to its average volume of 14,165. Tortoise Power and Energy Infrastructure Fund has a twelve month low of $19.50 and a twelve month high of $23.03. The business has a 50 day simple moving average of $22.20 and a 200-day simple moving average of $21.46.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 26th were issued a dividend of $0.2035 per share. This represents a $0.81 annualized dividend and a yield of 3.6%. The ex-dividend date was Thursday, March 26th.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth acquired a new position in Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at approximately $6,231,000. Cetera Investment Advisers grew its holdings in Tortoise Power and Energy Infrastructure Fund by 1,169.9% during the first quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company’s stock valued at $2,965,000 after purchasing an additional 124,837 shares during the last quarter. Uhlmann Price Securities LLC grew its holdings in Tortoise Power and Energy Infrastructure Fund by 39.9% during 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 purchasing an additional 21,418 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at approximately $870,000. Finally, Osaic Holdings Inc. grew its holdings 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 purchasing an additional 1,771 shares during the last quarter.

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.