Advisors Asset Management Inc. Acquires Shares of 65,502 Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Advisors Asset Management Inc. acquired a new position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 65,502 shares of the investment management company’s stock, valued at approximately $1,186,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TPZ. Sanctuary Advisors LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the second quarter valued at $258,000. Envestnet Asset Management Inc. boosted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 13.6% in the second quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock worth $3,116,000 after buying an additional 23,673 shares during the last quarter. Choreo LLC grew its holdings in Tortoise Power and Energy Infrastructure Fund by 7.7% during the second quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock worth $702,000 after acquiring an additional 3,169 shares during the period. Carmichael Hill & Associates Inc. grew its holdings in Tortoise Power and Energy Infrastructure Fund by 3.4% during the second quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock worth $338,000 after acquiring an additional 705 shares during the period. Finally, Wolverine Asset Management LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund during the second quarter valued at approximately $109,000.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Tortoise Power and Energy Infrastructure Fund stock opened at $20.54 on Tuesday. Tortoise Power and Energy Infrastructure Fund, Inc. has a 12 month low of $13.29 and a 12 month high of $20.96. The stock’s 50 day simple moving average is $18.95 and its two-hundred day simple moving average is $17.33.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend is Friday, November 22nd.

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.