Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Crosses Above 50 Day Moving Average – Here’s Why

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $22.27 and traded as high as $22.96. Tortoise Power and Energy Infrastructure Fund shares last traded at $22.80, with a volume of 23,925 shares changing hands.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.0%

The company’s 50-day simple moving average is $22.27 and its two-hundred day simple moving average is $21.40.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 26th were given a dividend of $0.2035 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.81 annualized dividend and a yield of 3.6%.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Several institutional investors have recently added to or reduced their stakes in TPZ. Focus Partners Wealth purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $6,231,000. Evolve Private Wealth LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $870,000. Uhlmann Price Securities LLC boosted its position in Tortoise Power and Energy Infrastructure Fund by 39.9% during the 3rd quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock valued at $1,578,000 after buying an additional 21,418 shares during the period. OLD Mission Capital LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $351,000. Finally, Walleye Capital LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 2nd quarter valued at $213,000.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund, Inc (NYSE: TPZ) is a closed-end management investment company that seeks total return through a mix of current income and capital appreciation. The fund pursues its objectives by investing primarily in exchange-listed closed-end funds that themselves hold securities of energy infrastructure companies. This fund-of-funds structure allows TPZ to offer diversified exposure to multiple segments of the energy infrastructure sector without directly purchasing individual corporate securities.

TPZ’s underlying investments include equity, debt and hybrid instruments issued by companies involved in the transportation, storage and processing of oil and natural gas, as well as utilities and power generation businesses.