Short Interest in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Rises By 78.5%

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ – Get Rating) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 25,700 shares, an increase of 78.5% from the April 30th total of 14,400 shares. Based on an average daily volume of 27,000 shares, the short-interest ratio is presently 1.0 days.

Shares of NYSE TPZ opened at $14.48 on Friday. The business has a 50-day moving average of $14.24 and a two-hundred day moving average of $13.92. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $12.51 and a 1 year high of $14.99.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 24th will be issued a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a yield of 8.70%. The ex-dividend date is Monday, May 23rd.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rivernorth Capital Management LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 3rd quarter worth about $909,000. Moors & Cabot Inc. purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 3rd quarter worth about $578,000. Wolverine Asset Management LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 3rd quarter worth about $410,000. Quantedge Capital Pte Ltd lifted its holdings in Tortoise Power and Energy Infrastructure Fund by 231.7% during the 3rd quarter. Quantedge Capital Pte Ltd now owns 39,667 shares of the investment management company’s stock worth $525,000 after buying an additional 27,710 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Tortoise Power and Energy Infrastructure Fund by 7.4% during the 2nd quarter. Wells Fargo & Company MN now owns 37,806 shares of the investment management company’s stock worth $518,000 after buying an additional 2,590 shares during the last quarter.

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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