Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Pass Below Fifty Day Moving Average – Time to Sell?

Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $20.95 and traded as low as $20.76. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.96, with a volume of 14,352 shares.

Tortoise Power and Energy Infrastructure Fund Stock Performance

The stock’s 50-day moving average price is $20.95 and its 200-day moving average price is $20.45.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Large investors have recently modified their holdings of the stock. Private Trust Co. NA lifted its position in shares of Tortoise Power and Energy Infrastructure Fund by 50.0% during the first quarter. Private Trust Co. NA now owns 3,000 shares of the investment management company’s stock worth $62,000 after purchasing an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 233.8% during the second quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock worth $160,000 after buying an additional 5,463 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the second quarter worth approximately $213,000. Osaic Holdings Inc. raised its stake in shares of 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 worth $547,000 after buying an additional 1,771 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 0.6% during the first quarter. Advisors Asset Management Inc. now owns 122,686 shares of the investment management company’s stock worth $2,533,000 after buying an additional 731 shares during the last quarter.

About Tortoise Power and Energy Infrastructure Fund

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.