Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Crosses Above 50-Day Moving Average of $13.23

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZGet Rating)’s stock price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $13.23 and traded as high as $13.74. Tortoise Power and Energy Infrastructure Fund shares last traded at $13.54, with a volume of 19,879 shares trading hands.

Tortoise Power and Energy Infrastructure Fund Stock Down 1.3 %

The company’s fifty day moving average is $13.23 and its two-hundred day moving average is $13.36.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Wednesday, November 23rd will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Tuesday, November 22nd. This represents a $1.26 dividend on an annualized basis and a yield of 9.31%.

Insiders Place Their Bets

In related news, Director Conrad S. Ciccotello acquired 2,300 shares of the business’s stock in a transaction on Thursday, September 22nd. The shares were bought at an average price of $12.92 per share, with a total value of $29,716.00. Following the completion of the acquisition, the director now owns 6,193 shares in the company, valued at $80,013.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPZ. Private Trust Co. NA purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund during the second quarter worth approximately $25,000. Wolverine Asset Management LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund during the second quarter worth approximately $60,000. Captrust Financial Advisors purchased a new position in Tortoise Power and Energy Infrastructure Fund in the 2nd quarter valued at $129,000. Eudaimonia Partners LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at $158,000. Finally, Truist Financial Corp grew its position in Tortoise Power and Energy Infrastructure Fund by 14.2% in the 2nd quarter. Truist Financial Corp now owns 15,359 shares of the investment management company’s stock valued at $192,000 after buying an additional 1,910 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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