Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Sees Large Decrease in Short Interest

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totalling 100 shares, a decrease of 98.1% from the May 31st total of 5,300 shares. Based on an average daily volume of 10,700 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Saba Capital Management L.P. grew its position in Tortoise Power and Energy Infrastructure Fund by 7.3% during 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. J.W. Cole Advisors Inc. bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at approximately $174,000. Bulldog Investors LLP increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 72.7% during the 4th quarter. Bulldog Investors LLP now owns 303,410 shares of the investment management company’s stock worth $4,221,000 after purchasing an additional 127,763 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 242.9% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 2,400 shares of the investment management company’s stock worth $37,000 after purchasing an additional 1,700 shares during the period. Finally, Choreo LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund in the first quarter valued at approximately $645,000.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Shares of NYSE TPZ opened at $15.77 on Friday. The stock’s 50 day moving average price is $15.42 and its 200-day moving average price is $14.85. Tortoise Power and Energy Infrastructure Fund has a twelve month low of $12.76 and a twelve month high of $16.00.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 21st were given a $0.105 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $1.26 annualized dividend and a yield of 7.99%.

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.