Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ – Get Free Report) major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.09, for a total value of $20,090,000.00. Following the completion of the transaction, the insider now directly owns 11,234 shares in the company, valued at approximately $225,691.06. This represents a 98.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Saba Capital Management, L.P. also recently made the following trade(s):
- On Tuesday, December 24th, Saba Capital Management, L.P. acquired 347,278 shares of Tortoise Power and Energy Infrastructure Fund stock. The stock was acquired at an average price of $13.78 per share, for a total transaction of $4,785,490.84.
Tortoise Power and Energy Infrastructure Fund Stock Performance
Shares of NYSE TPZ opened at $20.07 on Wednesday. Tortoise Power and Energy Infrastructure Fund, Inc. has a 12-month low of $13.79 and a 12-month high of $20.99. The firm has a 50 day moving average of $19.89 and a 200 day moving average of $18.23.
Tortoise Power and Energy Infrastructure Fund Announces Dividend
Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund
A number of institutional investors have recently bought and sold shares of TPZ. Wolverine Asset Management LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the second quarter worth about $109,000. Carmichael Hill & Associates Inc. raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 3.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock valued at $338,000 after purchasing an additional 705 shares during the period. Choreo LLC raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 7.7% during the 2nd quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock valued at $702,000 after purchasing an additional 3,169 shares during the period. Envestnet Asset Management Inc. increased its stake in Tortoise Power and Energy Infrastructure Fund by 13.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock worth $3,116,000 after buying an additional 23,673 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the 2nd quarter valued at approximately $258,000.
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.
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