Allspring Global Investments Holdings LLC Invests $568,000 in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Allspring Global Investments Holdings LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,332 shares of the investment management company’s stock, valued at approximately $568,000.

Several other institutional investors have also modified their holdings of the company. Kovitz Investment Group Partners LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $13,071,000. Advisors Asset Management Inc. bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $1,186,000. Sanctuary Advisors LLC grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 126.5% during the third quarter. Sanctuary Advisors LLC now owns 38,653 shares of the investment management company’s stock worth $700,000 after acquiring an additional 21,589 shares during the last quarter. Quarry LP bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $335,000. Finally, Atomi Financial Group Inc. bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $316,000.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.09, for a total value of $20,090,000.00. Following the completion of the sale, the insider now owns 11,234 shares of the company’s stock, valued at $225,691.06. This represents a 98.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Tortoise Power and Energy Infrastructure Fund stock opened at $20.80 on Tuesday. The company has a 50-day simple moving average of $20.87 and a 200-day simple moving average of $19.61. Tortoise Power and Energy Infrastructure Fund, Inc. has a one year low of $14.49 and a one year high of $22.30.

Tortoise Power and Energy Infrastructure Fund Increases Dividend

The business also recently disclosed a — dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 30th were issued a $0.0679 dividend. The ex-dividend date was Thursday, January 30th. This is an increase from Tortoise Power and Energy Infrastructure Fund’s previous — dividend of $0.03.

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.