Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 77.9% in May

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 24,411 shares, an increase of 77.9% from the April 30th total of 13,721 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 9,777 shares, the short-interest ratio is currently 2.5 days.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.2%

Shares of NYSE TPZ opened at $21.82 on Thursday. Tortoise Power and Energy Infrastructure Fund has a 52 week low of $19.64 and a 52 week high of $23.03. The business’s 50 day moving average price is $22.14 and its 200 day moving average price is $21.57.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Thursday, March 26th were given a $0.2035 dividend. This represents a $0.81 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, March 26th.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP boosted its position 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 worth $266,000 after purchasing an additional 2,059 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the 1st quarter worth approximately $31,000. OLD Mission Capital LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth approximately $351,000. Osaic Holdings Inc. boosted its position in 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 worth $547,000 after purchasing an additional 1,771 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth approximately $6,231,000.

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.