Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 233.3% in October

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 3,000 shares, a growth of 233.3% from the September 30th total of 900 shares. Based on an average daily trading volume, of 26,300 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPZ. Choreo LLC acquired a new stake in Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at approximately $645,000. Envestnet Asset Management Inc. grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 13.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock worth $3,116,000 after purchasing an additional 23,673 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter worth approximately $258,000. Wolverine Asset Management LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter worth approximately $109,000. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of 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 purchasing an additional 967 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Stock Performance

TPZ traded down $0.09 during midday trading on Friday, reaching $18.71. The company’s stock had a trading volume of 12,884 shares, compared to its average volume of 15,683. The company has a fifty day simple moving average of $18.34 and a 200 day simple moving average of $16.68. Tortoise Power and Energy Infrastructure Fund has a twelve month low of $13.14 and a twelve month high of $19.09.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th will be issued a $0.105 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date is Thursday, October 24th.

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.