Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Share Price Passes Above 50 Day Moving Average of $15.48

Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $15.48 and traded as high as $15.99. Tortoise Power and Energy Infrastructure Fund shares last traded at $15.83, with a volume of 3,684 shares.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.3 %

The company has a 50 day simple moving average of $15.48 and a 200-day simple moving average of $14.90.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 21st were given a $0.105 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 7.96%. The ex-dividend date was Friday, June 21st.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

A number of large investors have recently bought and sold shares of TPZ. Choreo LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the first quarter worth $645,000. J.W. Cole Advisors Inc. lifted its position in Tortoise Power and Energy Infrastructure Fund by 7.8% during the 1st 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. Blue Bell Private Wealth Management LLC lifted its position in Tortoise Power and Energy Infrastructure Fund by 242.9% during 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 buying an additional 1,700 shares in the last quarter. Finally, Bulldog Investors LLP boosted 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 buying an additional 127,763 shares during 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.