Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) shares crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $21.16 and traded as high as $23.03. Tortoise Power and Energy Infrastructure Fund shares last traded at $22.93, with a volume of 9,695 shares.

Tortoise Power and Energy Infrastructure Fund Stock Up 0.2%

The company’s 50 day moving average price is $21.25 and its 200-day moving average price is $21.01.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Several hedge funds have recently modified their holdings of TPZ. JPMorgan Chase & Co. boosted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock worth $160,000 after buying an additional 5,463 shares during the last quarter. Walleye Capital LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund in the second quarter worth $213,000. First Trust Advisors LP grew its stake in Tortoise Power and Energy Infrastructure Fund by 19.4% in the 3rd quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock valued at $266,000 after purchasing an additional 2,059 shares during the period. OLD Mission Capital LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $351,000. Finally, Osaic Holdings Inc. increased its position in shares of 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 valued at $547,000 after purchasing an additional 1,771 shares during 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.