Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Cross Above 50 Day Moving Average – Here’s Why

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $21.00 and traded as high as $21.16. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.0760, with a volume of 5,715 shares traded.

Tortoise Power and Energy Infrastructure Fund Price Performance

The firm’s 50-day simple moving average is $21.00 and its 200 day simple moving average is $20.52.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPZ. Breakthru Advisory Services LLC bought a new position in Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $7,889,000. Journey Advisory Group LLC lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 5.7% during the 2nd quarter. Journey Advisory Group LLC now owns 578,866 shares of the investment management company’s stock valued at $10,916,000 after buying an additional 31,124 shares in the last quarter. Uhlmann Price Securities LLC lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% during the 3rd quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock valued at $1,578,000 after buying an additional 21,418 shares in the last quarter. Walleye Capital LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth approximately $213,000. Finally, D.A. Davidson & CO. grew its stake in Tortoise Power and Energy Infrastructure Fund by 4.5% in the 2nd quarter. D.A. Davidson & CO. now owns 129,742 shares of the investment management company’s stock valued at $2,660,000 after buying an additional 5,574 shares in the last quarter.

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.