Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.43 and traded as high as $22.24. Tortoise Power and Energy Infrastructure Fund shares last traded at $22.17, with a volume of 14,861 shares changing hands.

Tortoise Power and Energy Infrastructure Fund Stock Performance

The company has a 50-day moving average of $21.43 and a 200-day moving average of $21.07.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Institutional investors have recently made changes to their positions in the stock. Breakthru Advisory Services LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the third quarter valued at $7,889,000. Focus Partners Wealth purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth about $6,231,000. D.A. Davidson & CO. increased its position in Tortoise Power and Energy Infrastructure Fund by 2.0% during the 3rd quarter. D.A. Davidson & CO. now owns 132,373 shares of the investment management company’s stock worth $2,781,000 after purchasing an additional 2,631 shares in the last quarter. Uhlmann Price Securities LLC raised its stake in Tortoise Power and Energy Infrastructure Fund by 39.9% in the 3rd quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock valued at $1,578,000 after purchasing an additional 21,418 shares during the last quarter. Finally, Evolve Private Wealth LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at about $870,000.

Tortoise Power and Energy Infrastructure Fund Company Profile

Tortoise Power and Energy Infrastructure Fund, Inc (NYSE: TPZ) is a closed-end management investment company that seeks total return through a mix of current income and capital appreciation. The fund pursues its objectives by investing primarily in exchange-listed closed-end funds that themselves hold securities of energy infrastructure companies. This fund-of-funds structure allows TPZ to offer diversified exposure to multiple segments of the energy infrastructure sector without directly purchasing individual corporate securities.

TPZ’s underlying investments include equity, debt and hybrid instruments issued by companies involved in the transportation, storage and processing of oil and natural gas, as well as utilities and power generation businesses.