Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Update

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 13,721 shares, a growth of 230.5% from the April 15th total of 4,151 shares. Based on an average trading volume of 11,186 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Hedge funds have recently modified their holdings of the business. OLD Mission Capital LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at approximately $351,000. Evolve Private Wealth LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at approximately $870,000. Focus Partners Wealth bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at approximately $6,231,000. First Trust Advisors LP lifted its position in Tortoise Power and Energy Infrastructure Fund by 19.4% in the third quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock worth $266,000 after purchasing an additional 2,059 shares during the period. Finally, Osaic Holdings Inc. lifted its position in Tortoise Power and Energy Infrastructure Fund by 7.1% in the second quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock worth $547,000 after purchasing an additional 1,771 shares during the period.

Tortoise Power and Energy Infrastructure Fund Stock Up 1.3%

Shares of TPZ traded up $0.28 during mid-day trading on Thursday, hitting $22.36. The company’s stock had a trading volume of 4,494 shares, compared to its average volume of 14,165. Tortoise Power and Energy Infrastructure Fund has a one year low of $19.50 and a one year high of $23.03. The stock’s 50-day moving average is $22.20 and its two-hundred day moving average is $21.46.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

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

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.