LPL Financial LLC raised its stake in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 628.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,849 shares of the investment management company's stock after purchasing an additional 84,417 shares during the quarter. LPL Financial LLC's holdings in Tortoise Power and Energy Infrastructure Fund were worth $1,963,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bard Associates Inc. increased its holdings in Tortoise Power and Energy Infrastructure Fund by 134.3% in the 4th quarter. Bard Associates Inc. now owns 473,321 shares of the investment management company's stock worth $9,509,000 after buying an additional 271,266 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at $2,907,000. D.A. Davidson & CO. increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 196.7% in the fourth quarter. D.A. Davidson & CO. now owns 108,308 shares of the investment management company's stock worth $2,173,000 after acquiring an additional 71,798 shares during the period. HighTower Advisors LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth $1,383,000. Finally, Advisors Asset Management Inc. lifted its position in Tortoise Power and Energy Infrastructure Fund by 86.2% during 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
NYSE:TPZ traded up $0.23 during mid-day trading on Friday, hitting $19.29. The company's stock had a trading volume of 21,378 shares, compared to its average volume of 44,764. The business's fifty day moving average is $20.14 and its two-hundred day moving average is $20.13. Tortoise Power and Energy Infrastructure Fund, Inc. has a 1 year low of $14.93 and a 1 year high of $22.30.
Tortoise Power and Energy Infrastructure Fund Cuts Dividend
The business also recently announced a monthly dividend, which was paid on Friday, February 28th. Investors of record on Thursday, February 27th were issued a dividend of $0.0679 per share. This represents a $0.81 annualized dividend and a yield of 4.22%. The ex-dividend date was Thursday, February 27th.
Tortoise Power and Energy Infrastructure Fund Company Profile
(
Free Report)
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.
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