Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Sees Large Drop in Short Interest

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totaling 5,158 shares, a drop of 80.2% from the July 15th total of 26,006 shares. Based on an average daily volume of 10,905 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Several institutional investors have recently bought and sold shares of TPZ. Focus Partners Wealth purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at $6,231,000. Cetera Investment Advisers grew its stake in Tortoise Power and Energy Infrastructure Fund by 1,169.9% during the 1st quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company’s stock valued at $2,965,000 after purchasing an additional 124,837 shares during the last quarter. Evolve Private Wealth LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth approximately $870,000. OLD Mission Capital LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth $351,000. Finally, Walleye Capital LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter valued at about $213,000.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of TPZ stock traded up $0.33 during mid-day trading on Friday, hitting $21.83. The company had a trading volume of 5,157 shares, compared to its average volume of 12,471. The stock’s 50 day moving average price is $21.80 and its 200-day moving average price is $21.97. Tortoise Power and Energy Infrastructure Fund has a 52-week low of $19.93 and a 52-week high of $23.03.

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.