Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) to Issue Monthly Dividend of $0.11 on June 30th

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ – Get Rating) declared a monthly dividend on Wednesday, June 15th, Wall Street Journal reports. Shareholders of record on Thursday, June 23rd will be given a dividend of 0.105 per share by the investment management company on Thursday, June 30th. This represents a $1.26 annualized dividend and a yield of 9.83%. The ex-dividend date is Wednesday, June 22nd.

Tortoise Power and Energy Infrastructure Fund has decreased its dividend by an average of 24.3% annually over the last three years and has raised its dividend every year for the last 2 years.

Shares of Tortoise Power and Energy Infrastructure Fund stock opened at $12.82 on Monday. The firm’s 50 day moving average is $14.13 and its 200 day moving average is $13.95. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $12.42 and a 1 year high of $14.99.

Several institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.4% during the 2nd quarter. Wells Fargo & Company MN now owns 37,806 shares of the investment management company’s stock valued at $518,000 after purchasing an additional 2,590 shares during the last quarter. UBS Group AG grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 20.5% during the 3rd quarter. UBS Group AG now owns 59,726 shares of the investment management company’s stock valued at $790,000 after purchasing an additional 10,151 shares during the last quarter. Eudaimonia Partners LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at approximately $158,000. Rivernorth Capital Management LLC acquired a new stake in Tortoise Power and Energy Infrastructure Fund during the 1st quarter worth approximately $262,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Tortoise Power and Energy Infrastructure Fund during the 1st quarter worth approximately $641,000.

Tortoise Power and Energy Infrastructure Fund Company Profile (Get Rating)

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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