Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $20.78 and traded as high as $21.28. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.12, with a volume of 35,846 shares.

Tortoise Power and Energy Infrastructure Fund Stock Up 0.2 %

The stock has a fifty day moving average price of $20.82 and a 200-day moving average price of $19.51.

Tortoise Power and Energy Infrastructure Fund Increases Dividend

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

Insider Transactions at Tortoise Power and Energy Infrastructure Fund

In other Tortoise Power and Energy Infrastructure Fund news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.09, for a total transaction of $20,090,000.00. Following the completion of the sale, the insider now directly owns 11,234 shares in the company, valued at $225,691.06. The trade was a 98.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

A number of hedge funds and other institutional investors have recently modified their holdings of TPZ. Kovitz Investment Group Partners LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at approximately $13,071,000. Bulldog Investors LLP increased its position in Tortoise Power and Energy Infrastructure Fund by 111.6% in the 4th quarter. Bulldog Investors LLP now owns 582,674 shares of the investment management company’s stock valued at $11,745,000 after acquiring an additional 307,283 shares during the period. Almitas Capital LLC increased its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 873.4% during the fourth quarter. Almitas Capital LLC now owns 576,065 shares of the investment management company’s stock valued at $11,559,000 after purchasing an additional 516,883 shares during the period. Bard Associates Inc. boosted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 134.3% in the fourth quarter. Bard Associates Inc. now owns 473,321 shares of the investment management company’s stock valued at $9,509,000 after acquiring an additional 271,266 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth approximately $7,046,000.

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.