Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Break Below Fifty Day Moving Average – What’s Next?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) shares crossed below its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $21.12 and traded as low as $20.59. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.73, with a volume of 18,412 shares trading hands.

Tortoise Power and Energy Infrastructure Fund Stock Up 0.3%

The business has a fifty day moving average of $21.12 and a 200 day moving average of $21.71.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Davidson Trust Co. acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth about $458,000. Cetera Investment Advisers boosted its stake in Tortoise Power and Energy Infrastructure Fund by 1,169.9% during the 1st 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 period. NWF Advisory Services Inc. boosted its stake in Tortoise Power and Energy Infrastructure Fund by 16.6% during the 1st quarter. NWF Advisory Services Inc. now owns 16,189 shares of the investment management company’s stock valued at $354,000 after purchasing an additional 2,300 shares during the period. Sound Income Strategies LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at about $31,000. Finally, Breakwater Capital Group bought a new position in Tortoise Power and Energy Infrastructure Fund in the 1st quarter worth about $204,000.

Tortoise Power and Energy Infrastructure Fund Company Profile

Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) is a closed-end management investment company focused on the power and energy infrastructure sectors. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, through investments in securities issued by companies involved in energy infrastructure.

TPZ invests primarily in debt and equity securities of companies that own or operate infrastructure used to generate, transmit, store, distribute or transport electricity and other forms of energy.