Concorde Asset Management LLC Makes New $403,000 Investment in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Concorde Asset Management LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,087 shares of the investment management company’s stock, valued at approximately $403,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbor Investment Advisory LLC acquired a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $27,000. JPMorgan Chase & Co. acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at $47,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 2,266.8% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 6,414 shares of the investment management company’s stock valued at $129,000 after buying an additional 6,143 shares during the last quarter. Cerity Partners LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth about $205,000. Finally, Atomi Financial Group Inc. bought a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth about $316,000.

Tortoise Power and Energy Infrastructure Fund Stock Performance

TPZ opened at $18.38 on Friday. Tortoise Power and Energy Infrastructure Fund, Inc. has a 1-year low of $14.70 and a 1-year high of $22.30. The firm has a 50-day moving average price of $20.39 and a two-hundred day moving average price of $20.09.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 27th were issued a $0.0679 dividend. This represents a $0.81 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Thursday, February 27th.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.