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

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a large growth in short interest in 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 daily 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 Trading of Tortoise Power and Energy Infrastructure Fund

A number of large investors have recently bought and sold shares of TPZ. Focus Partners Wealth bought a new stake in Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at $6,231,000. Cetera Investment Advisers grew its position in Tortoise Power and Energy Infrastructure Fund by 1,169.9% in the first quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company’s stock valued at $2,965,000 after acquiring an additional 124,837 shares during the period. Evolve Private Wealth LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at $870,000. Uhlmann Price Securities LLC grew its position in 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 acquiring an additional 21,418 shares during the period. Finally, OLD Mission Capital LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at $351,000.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of NYSE:TPZ traded down $0.24 during trading on Friday, hitting $22.07. 3,341 shares of the stock were exchanged, compared to its average volume of 14,048. Tortoise Power and Energy Infrastructure Fund has a 1-year low of $19.50 and a 1-year high of $23.03. The company’s fifty day simple moving average is $22.19 and its 200-day simple moving average is $21.46.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Thursday, March 26th were issued a dividend of $0.2035 per share. This represents a $0.81 annualized dividend and a dividend yield of 3.7%. 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.