Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Declares Monthly Dividend of $0.11

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) announced a monthly dividend on Thursday, November 9th, NASDAQ reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.105 per share by the investment management company on Thursday, November 30th. This represents a $1.26 dividend on an annualized basis and a yield of 9.40%. The ex-dividend date of this dividend is Tuesday, November 21st.

Tortoise Power and Energy Infrastructure Fund has decreased its dividend by an average of 6.8% annually over the last three years and has increased its dividend every year for the last 2 years.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.8 %

TPZ stock opened at $13.41 on Monday. Tortoise Power and Energy Infrastructure Fund has a 12-month low of $12.31 and a 12-month high of $14.38. The business’s fifty day moving average price is $13.43 and its 200 day moving average price is $13.32.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Several institutional investors and hedge funds have recently modified their holdings of TPZ. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at $641,000. Rivernorth Capital Management LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at $262,000. Eudaimonia Partners LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at $158,000. UBS Group AG raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 5.6% in the 2nd quarter. UBS Group AG now owns 62,895 shares of the investment management company’s stock valued at $787,000 after buying an additional 3,353 shares during the period. Finally, Captrust Financial Advisors acquired a new position in Tortoise Power and Energy Infrastructure Fund during the 2nd quarter worth $129,000.

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.