Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Update

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZGet Rating) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 4,900 shares, an increase of 75.0% from the March 31st total of 2,800 shares. Based on an average trading volume of 30,600 shares, the short-interest ratio is presently 0.2 days.

Several hedge funds have recently modified their holdings of the company. Moors & Cabot Inc. bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 3rd quarter valued at $578,000. Bulldog Investors LLP boosted its holdings in Tortoise Power and Energy Infrastructure Fund by 3.9% in the 4th quarter. Bulldog Investors LLP now owns 306,885 shares of the investment management company’s stock worth $4,180,000 after buying an additional 11,446 shares during the period. Saba Capital Management L.P. bought a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth $2,182,000. First Trust Advisors LP boosted its holdings in Tortoise Power and Energy Infrastructure Fund by 7.0% in the 1st quarter. First Trust Advisors LP now owns 155,084 shares of the investment management company’s stock worth $2,886,000 after buying an additional 10,188 shares during the period. Finally, Rivernorth Capital Management LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth $909,000.

Shares of TPZ stock opened at $14.23 on Friday. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $12.49 and a 1 year high of $14.99. The firm has a fifty day moving average price of $14.14 and a 200-day moving average price of $13.85.

The firm also recently disclosed a monthly dividend, which was paid on Friday, April 29th. Stockholders of record on Friday, April 22nd were given a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.85%. The ex-dividend date of this dividend was Thursday, April 21st.

About Tortoise Power and Energy Infrastructure Fund (Get Rating)

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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