Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 83.3% in September

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 3,300 shares, a growth of 83.3% from the September 15th total of 1,800 shares. Based on an average daily trading volume, of 27,100 shares, the short-interest ratio is presently 0.1 days.

Several institutional investors have recently added to or reduced their stakes in TPZ. RMB Capital Management LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth about $305,000. 6 Meridian purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth about $291,000. Advisor Group Holdings Inc. purchased a new position in Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at about $186,000. Rockefeller Capital Management L.P. lifted its holdings in Tortoise Power and Energy Infrastructure Fund by 33.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 104,900 shares of the investment management company’s stock valued at $947,000 after purchasing an additional 26,500 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Tortoise Power and Energy Infrastructure Fund by 7.0% in the 1st quarter. First Trust Advisors LP now owns 155,084 shares of the investment management company’s stock valued at $2,886,000 after purchasing an additional 10,188 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund stock opened at $8.82 on Friday. Tortoise Power and Energy Infrastructure Fund has a 52 week low of $3.77 and a 52 week high of $17.53. The firm’s 50-day simple moving average is $8.87 and its 200 day simple moving average is $8.99.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 23rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 22nd. This represents a $0.60 annualized dividend and a dividend yield of 6.80%.

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.

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