Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $18.60 and traded as high as $20.06. Tortoise Power and Energy Infrastructure Fund shares last traded at $19.71, with a volume of 31,444 shares changing hands.

Tortoise Power and Energy Infrastructure Fund Price Performance

The business has a 50-day simple moving average of $18.60 and a 200 day simple moving average of $17.04.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a $0.105 dividend. This represents a $1.26 annualized dividend and a yield of 6.39%. The ex-dividend date of this dividend is Friday, November 22nd.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Several large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 3rd quarter valued at $1,186,000. Envestnet Asset Management Inc. raised its holdings in Tortoise Power and Energy Infrastructure Fund by 13.6% during the second quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock valued at $3,116,000 after acquiring an additional 23,673 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the second quarter valued at about $258,000. Wolverine Asset Management LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the second quarter worth about $109,000. Finally, Choreo LLC raised its stake in Tortoise Power and Energy Infrastructure Fund by 7.7% during the 2nd quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock valued at $702,000 after purchasing an additional 3,169 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.