Almitas Capital LLC Purchases 516,883 Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Almitas Capital LLC lifted its stake in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 873.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 576,065 shares of the investment management company's stock after purchasing an additional 516,883 shares during the period. Tortoise Power and Energy Infrastructure Fund comprises about 2.5% of Almitas Capital LLC's investment portfolio, 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.

Several other institutional investors and hedge funds have also recently made changes to their positions in TPZ. Harbor Investment Advisory LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at about $27,000. JPMorgan Chase & Co. bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at about $47,000. Blue Bell Private Wealth Management LLC grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 2,266.8% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 6,414 shares of the investment management company's stock worth $129,000 after buying an additional 6,143 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Tortoise Power and Energy Infrastructure Fund by 19.4% during 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, Rockefeller Capital Management L.P. boosted its stake in Tortoise Power and Energy Infrastructure Fund by 10.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 108,003 shares of the investment management company's stock valued at $2,167,000 after acquiring an additional 10,153 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Shares of TPZ stock traded down $0.07 during trading hours on Monday, reaching $19.41. 6,035 shares of the company's stock were exchanged, compared to its average volume of 45,045. Tortoise Power and Energy Infrastructure Fund, Inc. has a fifty-two week low of $15.10 and a fifty-two week high of $22.30. The stock's 50 day moving average is $19.80 and its 200-day moving average is $20.19.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 27th were issued a $0.0679 dividend. This represents a $0.81 annualized dividend and a yield of 4.19%. The ex-dividend date was Thursday, February 27th.

About Tortoise Power and Energy Infrastructure Fund

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.