Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Pass Below 200 Day Moving Average – Should You Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $21.91 and traded as low as $21.15. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.15, with a volume of 15,645 shares traded.

Tortoise Power and Energy Infrastructure Fund Price Performance

The stock’s fifty day moving average is $21.96 and its two-hundred day moving average is $21.91.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several institutional investors and hedge funds have recently modified their holdings of TPZ. Cetera Investment Advisers boosted its position in shares of Tortoise Power and Energy Infrastructure Fund by 1,169.9% during the first quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company’s stock valued at $2,965,000 after buying an additional 124,837 shares during the last quarter. NWF Advisory Services Inc. grew its holdings in Tortoise Power and Energy Infrastructure Fund by 16.6% during the first quarter. NWF Advisory Services Inc. now owns 16,189 shares of the investment management company’s stock worth $354,000 after buying an additional 2,300 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at $31,000. Breakwater Capital Group purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at $204,000. Finally, OLD Mission Capital LLC bought a new position in Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $351,000.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.