Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 169.7% in November

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 8,900 shares, an increase of 169.7% from the October 31st total of 3,300 shares. Based on an average daily volume of 23,100 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the second quarter worth approximately $109,000. Sanctuary Advisors LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth $258,000. Quarry LP acquired a new stake in Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at $335,000. Carmichael Hill & Associates Inc. increased its stake in 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 valued at $338,000 after purchasing an additional 705 shares in the last quarter. Finally, Choreo LLC raised its holdings in Tortoise Power and Energy Infrastructure Fund by 7.7% during the second quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock worth $702,000 after buying an additional 3,169 shares during the last quarter.

Tortoise Power and Energy Infrastructure Fund Price Performance

TPZ traded up $0.14 during trading on Friday, hitting $20.82. The company’s stock had a trading volume of 32,464 shares, compared to its average volume of 15,793. Tortoise Power and Energy Infrastructure Fund has a twelve month low of $13.36 and a twelve month high of $20.96. The stock’s fifty day moving average price is $19.18 and its 200-day moving average price is $17.48.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 22nd were given a dividend of $0.105 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.26 dividend on an annualized basis and a dividend yield of 6.05%.

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.