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

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 900 shares, a decline of 72.7% from the September 15th total of 3,300 shares. Based on an average trading volume of 22,900 shares, the short-interest ratio is presently 0.0 days.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.3 %

Shares of TPZ traded down $0.06 on Thursday, hitting $18.65. The company’s stock had a trading volume of 41,661 shares, compared to its average volume of 14,938. Tortoise Power and Energy Infrastructure Fund has a fifty-two week low of $13.14 and a fifty-two week high of $18.78. The company has a 50 day moving average price of $17.95 and a 200 day moving average price of $16.42.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a $0.105 dividend. The ex-dividend date was Monday, September 23rd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 6.76%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Bulldog Investors LLP grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 72.7% in the 4th 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. J.W. Cole Advisors Inc. grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.8% during the first quarter. J.W. Cole Advisors Inc. now owns 13,367 shares of the investment management company’s stock worth $208,000 after buying an additional 967 shares in the last quarter. Choreo LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund during the first quarter worth $645,000. Wolverine Asset Management LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter worth about $109,000. Finally, Carmichael Hill & Associates Inc. grew its stake in Tortoise Power and Energy Infrastructure Fund by 3.4% in the second quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock valued at $338,000 after purchasing an additional 705 shares in the last quarter.

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.