Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $21.00 and traded as high as $21.16. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.0760, with a volume of 5,715 shares trading hands.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.7%

The business has a fifty day moving average of $21.00 and a 200-day moving average of $20.52.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in TPZ. Advisors Asset Management Inc. lifted its stake in Tortoise Power and Energy Infrastructure Fund by 0.6% during the first quarter. Advisors Asset Management Inc. now owns 122,686 shares of the investment management company’s stock valued at $2,533,000 after purchasing an additional 731 shares during the last quarter. Journey Advisory Group LLC increased its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 5.7% in 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 buying an additional 31,124 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Tortoise Power and Energy Infrastructure Fund by 4.5% during the 2nd quarter. D.A. Davidson & CO. now owns 129,742 shares of the investment management company’s stock valued at $2,660,000 after acquiring an additional 5,574 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 valued at $160,000 after acquiring an additional 5,463 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter worth $213,000.

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.