Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Price Passes Above 50 Day Moving Average of $15.00

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $15.00 and traded as high as $15.12. Tortoise Power and Energy Infrastructure Fund shares last traded at $15.11, with a volume of 6,915 shares traded.

Tortoise Power and Energy Infrastructure Fund Trading Up 1.6 %

The stock has a fifty day moving average of $15.00 and a 200 day moving average of $14.15.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 23rd will be issued a dividend of $0.105 per share. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $1.26 dividend on an annualized basis and a yield of 8.34%.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

A number of hedge funds have recently bought and sold shares of the business. Bulldog Investors LLP raised its stake 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 period. Thomas J. Herzfeld Advisors Inc. raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 14.5% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 208,471 shares of the investment management company’s stock valued at $2,785,000 after buying an additional 26,347 shares during the period. Saba Capital Management L.P. raised its stake 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 period. Rockefeller Capital Management L.P. raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 3.4% in the second quarter. Rockefeller Capital Management L.P. now owns 152,192 shares of the investment management company’s stock valued at $2,010,000 after buying an additional 5,000 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 29.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 124,765 shares of the investment management company’s stock valued at $1,749,000 after buying an additional 28,614 shares during the period.

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.