Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Price Passes Above 50-Day Moving Average - Time to Sell?

Key Points

• Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) has recently crossed above its 50-day moving average of $20.45, peaking at $20.75 during trading.
• Institutional investors have shown notable interest in TPZ, with firms like JPMorgan Chase & Co. and Beverly Hills Private Wealth LLC making significant purchases in recent quarters.
• The stock traded at $20.63, with a slight decline of 0.8% noted in the article.

Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Get Free Report) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $20.45 and traded as high as $20.75. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.63, with a volume of 5,254 shares traded.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.0%

The business has a fifty day simple moving average of $20.48 and a two-hundred day simple moving average of $20.21.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several hedge funds and other institutional investors have recently made changes to their positions in TPZ. JPMorgan Chase & Co. bought a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at approximately $47,000. Wells Fargo & Company MN lifted its position in Tortoise Power and Energy Infrastructure Fund by 85.8% in the 4th quarter. Wells Fargo & Company MN now owns 71,872 shares of the investment management company's stock valued at $1,442,000 after acquiring an additional 33,185 shares in the last quarter. Cerity Partners LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at approximately $205,000. Mariner LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at approximately $368,000. Finally, Jane Street Group LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $7,046,000.

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.