Wells Fargo & Company MN lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 85.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 71,872 shares of the investment management company's stock after acquiring an additional 33,185 shares during the quarter. Wells Fargo & Company MN's holdings in Tortoise Power and Energy Infrastructure Fund were worth $1,442,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPZ. Harbor Investment Advisory LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at about $27,000. JPMorgan Chase & Co. purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $47,000. Blue Bell Private Wealth Management LLC raised its stake in Tortoise Power and Energy Infrastructure Fund by 2,266.8% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 6,414 shares of the investment management company's stock valued at $129,000 after purchasing an additional 6,143 shares during the period. Sanctuary Advisors LLC lifted its holdings in Tortoise Power and Energy Infrastructure Fund by 19.4% in the 4th quarter. Sanctuary Advisors LLC now owns 46,133 shares of the investment management company's stock worth $982,000 after purchasing an additional 7,480 shares in the last quarter. Finally, Atomi Financial Group Inc. bought a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth approximately $316,000.
Tortoise Power and Energy Infrastructure Fund Price Performance
Shares of NYSE:TPZ traded up $0.05 during mid-day trading on Friday, reaching $19.59. The stock had a trading volume of 8,449 shares, compared to its average volume of 44,876. The business's 50 day moving average price is $19.83 and its 200 day moving average price is $20.16. Tortoise Power and Energy Infrastructure Fund, Inc. has a 1 year low of $15.00 and a 1 year high of $22.30.
Tortoise Power and Energy Infrastructure Fund Cuts Dividend
The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 27th were given a dividend of $0.0679 per share. This represents a $0.81 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend was Thursday, February 27th.
Tortoise Power and Energy Infrastructure Fund 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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