Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $20.68 and traded as high as $22.00. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.8310, with a volume of 10,343 shares.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.7%

The company has a 50-day moving average price of $20.68 and a 200-day moving average price of $20.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Journey Advisory Group LLC boosted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 5.7% during the 2nd quarter. Journey Advisory Group LLC now owns 578,866 shares of the investment management company’s stock valued at $10,916,000 after buying an additional 31,124 shares during the period. Breakthru Advisory Services LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the third quarter worth $7,889,000. D.A. Davidson & CO. grew its stake in Tortoise Power and Energy Infrastructure Fund by 2.0% during the third quarter. D.A. Davidson & CO. now owns 132,373 shares of the investment management company’s stock worth $2,781,000 after buying an additional 2,631 shares during the last quarter. Uhlmann Price Securities LLC increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% in the third 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 in the last quarter. Finally, Osaic Holdings Inc. increased its position in Tortoise Power and Energy Infrastructure Fund by 7.1% in the 2nd quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock valued at $547,000 after acquiring an additional 1,771 shares in the last quarter.

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.