Wolverine Asset Management LLC Reduces Stock Position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Wolverine Asset Management LLC trimmed its holdings in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) by 92.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,040 shares of the investment management company’s stock after selling 52,065 shares during the quarter. Wolverine Asset Management LLC’s holdings in Tortoise Power and Energy Infrastructure Fund were worth $57,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at approximately $174,000. D.A. Davidson & CO. raised its holdings in Tortoise Power and Energy Infrastructure Fund by 5.6% during the 3rd quarter. D.A. Davidson & CO. now owns 30,173 shares of the investment management company’s stock valued at $403,000 after buying an additional 1,599 shares during the period. Saba Capital Management L.P. raised its holdings in Tortoise Power and Energy Infrastructure Fund by 7.3% during the 3rd 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. Finally, Thomas J. Herzfeld Advisors Inc. lifted its position in 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 worth $2,785,000 after buying an additional 26,347 shares during the last quarter.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.1 %

TPZ stock opened at $15.15 on Monday. The firm’s fifty day simple moving average is $15.08 and its two-hundred day simple moving average is $14.23. Tortoise Power and Energy Infrastructure Fund, Inc. has a twelve month low of $12.45 and a twelve month high of $15.80.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The company 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 is Monday, April 22nd. This represents a $1.26 annualized dividend and a yield of 8.32%.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.