Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Declares Monthly Dividend of $0.07

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) announced a monthly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Thursday, February 27th will be paid a dividend of 0.0679 per share by the investment management company on Friday, February 28th. This represents a $0.81 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, February 27th.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.7 %

Shares of NYSE TPZ traded down $0.14 during trading hours on Thursday, hitting $20.38. 25,267 shares of the stock were exchanged, compared to its average volume of 93,120. Tortoise Power and Energy Infrastructure Fund has a 12 month low of $14.50 and a 12 month high of $22.30. The firm has a fifty day moving average price of $20.90 and a 200-day moving average price of $19.64.

Insider Buying and Selling at Tortoise Power and Energy Infrastructure Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 347,278 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average cost of $13.78 per share, with a total value of $4,785,490.84. Following the completion of the acquisition, the insider now owns 1,011,234 shares of the company’s stock, valued at approximately $13,934,804.52. This represents a 52.30 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.