Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 1,168.6% in June

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 60,385 shares, a growth of 1,168.6% from the May 31st total of 4,760 shares. Based on an average daily trading volume, of 11,437 shares, the short-interest ratio is currently 5.3 days. Approximately 1.0% of the shares of the company are sold short.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several hedge funds have recently bought and sold shares of TPZ. OLD Mission Capital LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth about $351,000. Evolve Private Wealth LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at approximately $870,000. Focus Partners Wealth bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at approximately $6,231,000. First Trust Advisors LP boosted its position in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% during the third quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock worth $266,000 after buying an additional 2,059 shares during the period. Finally, Osaic Holdings Inc. grew its holdings 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 worth $547,000 after buying an additional 1,771 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Stock Performance

TPZ stock traded up $0.12 during mid-day trading on Thursday, reaching $22.22. The company had a trading volume of 11,155 shares, compared to its average volume of 13,279. Tortoise Power and Energy Infrastructure Fund has a one year low of $19.93 and a one year high of $23.03. The stock’s 50-day simple moving average is $22.05 and its two-hundred day simple moving average is $21.66.

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.