Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Price Crosses Above Fifty Day Moving Average of $15.39

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s share price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $15.39 and traded as high as $15.76. Tortoise Power and Energy Infrastructure Fund shares last traded at $15.72, with a volume of 10,997 shares.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.1 %

The stock’s fifty day moving average is $15.42 and its two-hundred day moving average is $14.85.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 21st will be issued a dividend of $0.105 per share. This represents a $1.26 annualized dividend and a yield of 7.99%. The ex-dividend date of this dividend is Friday, June 21st.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC boosted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 242.9% in the first quarter. Blue Bell Private Wealth Management LLC now owns 2,400 shares of the investment management company’s stock valued at $37,000 after buying an additional 1,700 shares during the period. J.W. Cole Advisors Inc. acquired a new position in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth approximately $174,000. Choreo LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at approximately $645,000. Saba Capital Management L.P. boosted its position in Tortoise Power and Energy Infrastructure Fund by 7.3% in the third quarter. Saba Capital Management L.P. now owns 177,876 shares of the investment management company’s stock valued at $2,376,000 after buying an additional 12,105 shares in the last quarter. Finally, Bulldog Investors LLP grew its position in 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 acquiring 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.