725,678 Shares in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Purchased by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 725,678 shares of the investment management company’s stock, valued at approximately $13,071,000.

Several other hedge funds have also recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its position 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 during the last quarter. Advisors Asset Management Inc. purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 3rd quarter valued at about $1,186,000. Choreo LLC grew its stake in 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 valued at $702,000 after acquiring an additional 3,169 shares in the last quarter. Carmichael Hill & Associates Inc. grew its stake in Tortoise Power and Energy Infrastructure Fund by 3.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock valued at $338,000 after acquiring an additional 705 shares in the last quarter. Finally, Quarry LP purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 3rd quarter valued at about $335,000.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.8 %

Shares of NYSE TPZ opened at $20.58 on Friday. Tortoise Power and Energy Infrastructure Fund, Inc. has a 12-month low of $13.36 and a 12-month high of $20.99. The company has a 50-day moving average of $19.41 and a 200 day moving average of $17.65.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were paid a dividend of $0.105 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.26 annualized dividend and a yield of 6.12%.

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.