Short Interest in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Rises By 230.5%

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

Tortoise Power and Energy Infrastructure Fund Stock Down 1.1%

Shares of TPZ stock traded down $0.24 on Friday, hitting $22.07. The company’s stock had a trading volume of 3,341 shares, compared to its average volume of 14,048. Tortoise Power and Energy Infrastructure Fund has a fifty-two week low of $19.50 and a fifty-two week high of $23.03. The firm’s fifty day moving average price is $22.19 and its 200-day moving average price is $21.46.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Thursday, March 26th were paid a $0.2035 dividend. This represents a $0.81 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Thursday, March 26th.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Focus Partners Wealth acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at $6,231,000. Cetera Investment Advisers lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 1,169.9% in 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 last quarter. Uhlmann Price Securities LLC lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% in 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 purchasing an additional 21,418 shares during the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at $870,000. Finally, Osaic Holdings Inc. lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 7.1% in the 2nd 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.