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

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 8,900 shares, an increase of 169.7% from the October 31st total of 3,300 shares. Based on an average daily volume of 23,100 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TPZ. Envestnet Asset Management Inc. grew its holdings in Tortoise Power and Energy Infrastructure Fund by 13.6% during the second quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock valued at $3,116,000 after purchasing an additional 23,673 shares during the last quarter. Choreo LLC boosted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.7% during the 2nd quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock worth $702,000 after buying an additional 3,169 shares during the period. Wolverine Asset Management LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund in the 2nd quarter valued at $109,000. Sanctuary Advisors LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth $258,000. Finally, Carmichael Hill & Associates Inc. raised its holdings in Tortoise Power and Energy Infrastructure Fund by 3.4% in the 2nd 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.

Tortoise Power and Energy Infrastructure Fund Trading Up 1.2 %

Shares of NYSE:TPZ opened at $20.68 on Thursday. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $13.33 and a 1 year high of $20.96. The firm has a fifty day moving average price of $19.04 and a 200 day moving average price of $17.40.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.105 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.26 annualized dividend and a dividend yield of 6.09%.

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.