Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Crosses Above 50-Day Moving Average – What’s Next?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $22.18 and traded as high as $22.44. Tortoise Power and Energy Infrastructure Fund shares last traded at $22.4240, with a volume of 12,376 shares changing hands.

Tortoise Power and Energy Infrastructure Fund Price Performance

The business’s 50-day simple moving average is $22.18 and its 200 day simple moving average is $21.50.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

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

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Large investors have recently added to or reduced their stakes in the stock. Sound Income Strategies LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at $31,000. JPMorgan Chase & Co. grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 233.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock valued at $160,000 after acquiring an additional 5,463 shares during the period. Breakwater Capital Group bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at $204,000. Walleye Capital LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter valued at $213,000. Finally, First Trust Advisors LP grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% during the 3rd quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock valued at $266,000 after acquiring an additional 2,059 shares during the period.

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.