Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Down 80.5% in May

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 4,760 shares, a drop of 80.5% from the May 14th total of 24,411 shares. Based on an average trading volume of 9,076 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TPZ. JPMorgan Chase & Co. increased its holdings in 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 worth $160,000 after purchasing an additional 5,463 shares during the period. Walleye Capital LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund during the 2nd quarter worth $213,000. Osaic Holdings Inc. increased its holdings in Tortoise Power and Energy Infrastructure Fund by 7.1% during the 2nd quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock worth $547,000 after purchasing an additional 1,771 shares during the period. Uhlmann Price Securities LLC increased its holdings in Tortoise Power and Energy Infrastructure Fund by 39.9% during the 3rd quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock worth $1,578,000 after purchasing an additional 21,418 shares during the period. Finally, First Trust Advisors LP increased its holdings in 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 worth $266,000 after purchasing an additional 2,059 shares during the period.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of TPZ stock traded up $0.03 on Wednesday, reaching $21.60. 15,088 shares of the company’s stock were exchanged, compared to its average volume of 13,492. Tortoise Power and Energy Infrastructure Fund has a 52 week low of $19.64 and a 52 week high of $23.03. The company’s fifty day simple moving average is $22.11 and its 200 day simple moving average is $21.59.

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.