Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Cross Below 50-Day Moving Average – Time to Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $20.97 and traded as low as $20.33. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.3550, with a volume of 6,415 shares.

Tortoise Power and Energy Infrastructure Fund Price Performance

The company’s 50-day moving average is $20.97 and its 200-day moving average is $20.72.

Insider Buying and Selling at Tortoise Power and Energy Infrastructure Fund

In related news, Director Andrew J. Iseman acquired 2,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $21.20 per share, with a total value of $42,400.00. Following the purchase, the director directly owned 2,000 shares of the company’s stock, valued at approximately $42,400. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Journey Advisory Group LLC grew its position in Tortoise Power and Energy Infrastructure Fund by 5.7% during the second quarter. Journey Advisory Group LLC now owns 578,866 shares of the investment management company’s stock valued at $10,916,000 after acquiring an additional 31,124 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 4.5% in the 2nd quarter. D.A. Davidson & CO. now owns 129,742 shares of the investment management company’s stock worth $2,660,000 after purchasing an additional 5,574 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 0.6% in the 1st quarter. Advisors Asset Management Inc. now owns 122,686 shares of the investment management company’s stock worth $2,533,000 after purchasing an additional 731 shares during the period. First Trust Advisors LP lifted its stake in shares of 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 in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of 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 valued at $547,000 after purchasing an additional 1,771 shares in the last quarter.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund, Inc is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors, LLC. The fund invests in the fixed income and public equity markets of the United States. It invests in securities of companies operating in the power and energy infrastructure sectors.