Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $18.39 and traded as high as $18.83. Tortoise Power and Energy Infrastructure Fund shares last traded at $18.69, with a volume of 9,359 shares changing hands.

Tortoise Power and Energy Infrastructure Fund Price Performance

The company’s fifty day simple moving average is $18.39 and its 200 day simple moving average is $16.77.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 24th were paid a $0.105 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend was Thursday, October 24th.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several large investors have recently bought and sold shares of TPZ. Envestnet Asset Management Inc. lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 13.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock valued at $3,116,000 after purchasing an additional 23,673 shares during the period. Choreo LLC raised its holdings in Tortoise Power and Energy Infrastructure Fund by 7.7% in the second quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock worth $702,000 after purchasing an additional 3,169 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its position in Tortoise Power and Energy Infrastructure Fund by 3.4% during the second quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock valued at $338,000 after buying an additional 705 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter valued at $258,000. Finally, J.W. Cole Advisors Inc. grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 7.8% in the 1st quarter. J.W. Cole Advisors Inc. now owns 13,367 shares of the investment management company’s stock worth $208,000 after buying an additional 967 shares during the period.

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.