Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Pass Above 50 Day Moving Average of $15.39

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.39 and traded as high as $15.76. Tortoise Power and Energy Infrastructure Fund shares last traded at $15.72, with a volume of 10,997 shares.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.1 %

The stock’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $14.82.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be given a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a yield of 8.02%. The ex-dividend date of this dividend is Friday, June 21st.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Hedge funds have recently modified their holdings of the business. Saba Capital Management L.P. raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 7.3% in the third quarter. Saba Capital Management L.P. now owns 177,876 shares of the investment management company’s stock valued at $2,376,000 after buying an additional 12,105 shares during the last quarter. Bulldog Investors LLP raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 72.7% in the fourth quarter. Bulldog Investors LLP now owns 303,410 shares of the investment management company’s stock valued at $4,221,000 after buying an additional 127,763 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 242.9% in the first quarter. Blue Bell Private Wealth Management LLC now owns 2,400 shares of the investment management company’s stock valued at $37,000 after buying an additional 1,700 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at about $174,000. Finally, Choreo LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the first quarter valued at about $645,000.

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.