Almitas Capital LLC grew its stake in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 873.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 576,065 shares of the investment management company's stock after acquiring an additional 516,883 shares during the quarter. Tortoise Power and Energy Infrastructure Fund comprises about 2.5% of Almitas Capital LLC's holdings, making the stock its 7th largest position. Almitas Capital LLC's holdings in Tortoise Power and Energy Infrastructure Fund were worth $11,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the stock. Jane Street Group LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth approximately $7,046,000. 1607 Capital Partners LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at $1,511,000. Mariner LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at about $368,000. Rockefeller Capital Management L.P. increased its stake in Tortoise Power and Energy Infrastructure Fund by 10.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 108,003 shares of the investment management company's stock worth $2,167,000 after acquiring an additional 10,153 shares during the last quarter. Finally, Concorde Asset Management LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth about $403,000.
Tortoise Power and Energy Infrastructure Fund Stock Up 0.6 %
TPZ traded up $0.13 on Wednesday, reaching $19.59. 28,416 shares of the company's stock were exchanged, compared to its average volume of 45,070. Tortoise Power and Energy Infrastructure Fund, Inc. has a twelve month low of $15.10 and a twelve month high of $22.30. The company's 50 day moving average is $19.78 and its 200-day moving average is $20.18.
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. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $0.81 annualized dividend and a dividend yield of 4.16%.
About Tortoise Power and Energy Infrastructure Fund
(
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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