Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Shares Shorted: Short Interest Down 39.6% in October

Key Points

• Short interest in TPZ fell 39.6% to 4,504 shares as of October 15, down from 7,459 shares at the end of September. Short positions represent approximately 0.1% of the fund’s shares, with a short-interest ratio of 0.6 days.
• Institutional interest increased, with D.A. Davidson and Davidson Trust initiating positions and Cetera Investment Advisers boosting its stake by 1,169.9%.
• TPZ shares opened at $21.47, near their 50-day moving average of $20.89, and remain within a one-year range of $19.68 to $23.03.

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Get Free Report) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 4,504 shares, a decrease of 39.6% from the September 30th total of 7,459 shares. Based on an average daily trading volume, of 8,052 shares, the short-interest ratio is presently 0.6 days. Approximately 0.1% of the company's stock are short sold.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

A number of institutional investors have recently modified their holdings of the business. D.A. Davidson & CO. acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the third quarter worth $1,300,000. Davidson Trust Co. purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the third quarter valued at about $458,000. Cetera Investment Advisers increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 1,169.9% during the first quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company's stock worth $2,965,000 after acquiring an additional 124,837 shares during the period. NWF Advisory Services Inc. increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 16.6% during the first quarter. NWF Advisory Services Inc. now owns 16,189 shares of the investment management company's stock worth $354,000 after acquiring an additional 2,300 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund during the first quarter worth about $31,000.

Tortoise Power and Energy Infrastructure Fund Stock Up 0.1%

Shares of NYSE TPZ opened at $21.47 on Friday. The business has a 50-day moving average of $20.89 and a two-hundred day moving average of $21.64. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $19.68 and a 1 year high of $23.03.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund NYSE: TPZ is a closed-end investment fund focused on the power and energy infrastructure sector. The fund seeks to provide current income and long-term capital appreciation by investing in a portfolio of debt and equity securities issued by companies involved in power generation, electric transmission and distribution, energy transportation, and related infrastructure.

Its investments may include utility companies, independent power producers, midstream energy businesses, renewable energy developers, and other firms that own or operate essential energy infrastructure.

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