Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Update

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 3,000 shares, a growth of 233.3% from the September 30th total of 900 shares. Based on an average daily volume of 26,300 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TPZ. Wolverine Asset Management LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund in the second quarter worth about $109,000. J.W. Cole Advisors Inc. raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.8% in the first 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. Sanctuary Advisors LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the second quarter worth approximately $258,000. Carmichael Hill & Associates Inc. lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 3.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock worth $338,000 after acquiring an additional 705 shares during the last quarter. Finally, Choreo LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at $645,000.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.5 %

TPZ stock traded down $0.09 during mid-day trading on Friday, hitting $18.71. The company had a trading volume of 12,884 shares, compared to its average volume of 15,683. The company has a 50-day moving average price of $18.34 and a 200 day moving average price of $16.70. Tortoise Power and Energy Infrastructure Fund has a 12-month low of $13.14 and a 12-month high of $19.09.

Tortoise Power and Energy Infrastructure Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th will be paid a $0.105 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 6.73%.

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.