Kovitz Investment Group Partners LLC Sells 23,618 Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Kovitz Investment Group Partners LLC decreased its position in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 702,060 shares of the investment management company's stock after selling 23,618 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Tortoise Power and Energy Infrastructure Fund were worth $14,087,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of TPZ. Harbor Investment Advisory LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at about $27,000. Atomi Financial Group Inc. purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $316,000. Allspring Global Investments Holdings LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth about $568,000. Sanctuary Advisors LLC boosted its stake in Tortoise Power and Energy Infrastructure Fund by 19.4% in the fourth quarter. Sanctuary Advisors LLC now owns 46,133 shares of the investment management company's stock valued at $982,000 after acquiring an additional 7,480 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 196.7% during the 4th quarter. D.A. Davidson & CO. now owns 108,308 shares of the investment management company's stock valued at $2,173,000 after acquiring an additional 71,798 shares during the period.

Tortoise Power and Energy Infrastructure Fund Stock Performance

NYSE:TPZ traded up $0.20 during trading hours on Thursday, reaching $19.48. The stock had a trading volume of 12,303 shares, compared to its average volume of 44,864. Tortoise Power and Energy Infrastructure Fund, Inc. has a 12-month low of $14.93 and a 12-month high of $22.30. The stock has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $20.16.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 27th were paid a $0.0679 dividend. This represents a $0.81 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Thursday, February 27th.

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.