Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Shares Bought by Yakira Capital Management Inc.

Yakira Capital Management Inc. grew its holdings in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) by 568.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 315,711 shares of the investment management company’s stock after buying an additional 268,485 shares during the quarter. Tortoise Power and Energy Infrastructure Fund accounts for about 2.3% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 11th biggest holding. Yakira Capital Management Inc.’s holdings in Tortoise Power and Energy Infrastructure Fund were worth $6,335,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Kovitz Investment Group Partners LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund in the third quarter worth $13,071,000. Bard Associates Inc. grew its stake in shares of Tortoise Power and Energy Infrastructure Fund by 134.3% during the 4th quarter. Bard Associates Inc. now owns 473,321 shares of the investment management company’s stock worth $9,509,000 after purchasing an additional 271,266 shares during the period. Aristides Capital LLC grew its stake in shares of Tortoise Power and Energy Infrastructure Fund by 1,652.8% during the 4th quarter. Aristides Capital LLC now owns 317,062 shares of the investment management company’s stock worth $6,362,000 after purchasing an additional 298,973 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at about $2,907,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 86.2% in the fourth quarter. Advisors Asset Management Inc. now owns 121,955 shares of the investment management company’s stock valued at $2,447,000 after purchasing an additional 56,453 shares during the period.

Tortoise Power and Energy Infrastructure Fund Price Performance

TPZ stock opened at $18.54 on Friday. The company’s 50-day moving average price is $20.70 and its 200 day moving average price is $20.09. Tortoise Power and Energy Infrastructure Fund, Inc. has a 52 week low of $14.70 and a 52 week high of $22.30.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.0679 per share. This represents a $0.81 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Thursday, February 27th.

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.