Cetera Investment Advisers Acquires 124,837 Shares of Tortoise Power and Energy Infrastructure Fund, Inc. $TPZ

Key Points

• Cetera Investment Advisers increased its TPZ stake by 1,169.9% in the first quarter, adding 124,837 shares to own 135,508 shares valued at approximately $2.97 million, or 2.27% of the fund.
• Other institutional investors also established or expanded positions, including JPMorgan Chase, which increased its holdings by 233.8%, and First Trust Advisors, which raised its position by 19.4%.
• TPZ shares opened at $21.19, below their 50-day and 200-day moving averages of $21.84 and $21.94. The fund invests in closed-end funds holding energy infrastructure companies across oil and gas, utilities, and power generation.

Cetera Investment Advisers increased its holdings in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 1,169.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 135,508 shares of the investment management company's stock after acquiring an additional 124,837 shares during the period. Cetera Investment Advisers owned about 2.27% of Tortoise Power and Energy Infrastructure Fund worth $2,965,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TPZ. Sound Income Strategies LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at about $31,000. JPMorgan Chase & Co. lifted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 233.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company's stock worth $160,000 after buying an additional 5,463 shares during the period. Breakwater Capital Group purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 1st quarter worth $204,000. Walleye Capital LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter worth $213,000. Finally, First Trust Advisors LP grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% during the 3rd quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company's stock worth $266,000 after buying an additional 2,059 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Shares of Tortoise Power and Energy Infrastructure Fund stock opened at $21.19 on Friday. The stock's fifty day moving average price is $21.84 and its 200-day moving average price is $21.94. Tortoise Power and Energy Infrastructure Fund, Inc. has a 12 month low of $19.93 and a 12 month high of $23.03.

Tortoise Power and Energy Infrastructure Fund Profile

Tortoise Power and Energy Infrastructure Fund, Inc NYSE: TPZ is a closed-end management investment company that seeks total return through a mix of current income and capital appreciation. The fund pursues its objectives by investing primarily in exchange-listed closed-end funds that themselves hold securities of energy infrastructure companies. This fund-of-funds structure allows TPZ to offer diversified exposure to multiple segments of the energy infrastructure sector without directly purchasing individual corporate securities.

TPZ's underlying investments include equity, debt and hybrid instruments issued by companies involved in the transportation, storage and processing of oil and natural gas, as well as utilities and power generation businesses.

Want to see what other hedge funds are holding TPZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report).

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