Bard Associates Inc. Lowers Position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Key Points

• Bard Associates Inc. reduced its stake in Tortoise Power and Energy Infrastructure Fund by 38.3%, selling 181,460 shares in the first quarter.
• The Tortoise Power and Energy Infrastructure Fund currently represents 2.2% of Bard Associates' portfolio, valued at approximately $6,027,000.
• As of the latest filing, Tortoise Power and Energy Infrastructure Fund shares have fluctuated between a 1-year low of $17.13 and a 1-year high of $22.30.

Bard Associates Inc. reduced its stake in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 38.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 291,861 shares of the investment management company's stock after selling 181,460 shares during the period. Tortoise Power and Energy Infrastructure Fund makes up 2.2% of Bard Associates Inc.'s investment portfolio, making the stock its 2nd biggest position. Bard Associates Inc. owned about 3.72% of Tortoise Power and Energy Infrastructure Fund worth $6,027,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in TPZ. JPMorgan Chase & Co. purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at about $47,000. Private Trust Co. NA boosted its stake in Tortoise Power and Energy Infrastructure Fund by 50.0% during the first quarter. Private Trust Co. NA now owns 3,000 shares of the investment management company's stock worth $62,000 after acquiring an additional 1,000 shares in the last quarter. Cerity Partners LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $205,000. Beverly Hills Private Wealth LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $207,000. Finally, Cetera Investment Advisers lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 6.6% in the fourth quarter. Cetera Investment Advisers now owns 16,204 shares of the investment management company's stock worth $325,000 after buying an additional 1,000 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.4%

Shares of NYSE TPZ traded down $0.09 during midday trading on Friday, hitting $20.82. The stock had a trading volume of 4,573 shares, compared to its average volume of 46,907. The business's 50 day moving average is $20.38 and its 200-day moving average is $20.23. Tortoise Power and Energy Infrastructure Fund, Inc. has a 52 week low of $17.13 and a 52 week high of $22.30.

Tortoise Power and Energy Infrastructure Fund 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.