Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Declares Monthly Dividend of $0.07

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) announced a monthly dividend on Thursday, February 27th, Wall Street Journal reports. Investors of record on Thursday, February 27th will be given a dividend of 0.0679 per share by the investment management company on Friday, February 28th. This represents a $0.81 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Thursday, February 27th.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of TPZ traded down $0.14 during trading on Thursday, reaching $20.38. 25,267 shares of the company traded hands, compared to its average volume of 93,120. The stock has a 50-day simple moving average of $20.90 and a 200-day simple moving average of $19.64. Tortoise Power and Energy Infrastructure Fund has a twelve month low of $14.50 and a twelve month high of $22.30.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $20.09, for a total transaction of $20,090,000.00. Following the completion of the sale, the insider now owns 11,234 shares in the company, valued at approximately $225,691.06. The trade was a 98.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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.