Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ – Get Free Report) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totalling 1,500 shares, a growth of 1,400.0% from the June 15th total of 100 shares. Based on an average daily volume of 11,500 shares, the short-interest ratio is presently 0.1 days.
Tortoise Power and Energy Infrastructure Fund Price Performance
Shares of Tortoise Power and Energy Infrastructure Fund stock opened at $16.13 on Friday. Tortoise Power and Energy Infrastructure Fund has a fifty-two week low of $12.76 and a fifty-two week high of $16.27. The business has a 50-day moving average price of $15.59 and a 200 day moving average price of $14.99.
Tortoise Power and Energy Infrastructure Fund Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 24th will be given a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 7.81%. The ex-dividend date is Wednesday, July 24th.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC lifted its stake in Tortoise Power and Energy Infrastructure Fund by 242.9% during the first quarter. Blue Bell Private Wealth Management LLC now owns 2,400 shares of the investment management company’s stock valued at $37,000 after buying an additional 1,700 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth about $174,000. Choreo LLC acquired a new stake in Tortoise Power and Energy Infrastructure Fund in the 1st quarter worth approximately $645,000. Finally, Bulldog Investors LLP grew its stake in Tortoise Power and Energy Infrastructure Fund by 72.7% in the 4th quarter. Bulldog Investors LLP now owns 303,410 shares of the investment management company’s stock valued at $4,221,000 after buying an additional 127,763 shares during 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.
Further Reading
Receive News & Ratings for Tortoise Power and Energy Infrastructure Fund Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Tortoise Power and Energy Infrastructure Fund and related companies with MarketBeat.com’s FREE daily email newsletter.