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

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) declared a monthly dividend on Wednesday, April 10th, Wall Street Journal reports. Shareholders of record on Tuesday, April 23rd will be given a dividend of 0.105 per share by the investment management company on Tuesday, April 30th. This represents a $1.26 dividend on an annualized basis and a yield of 8.34%. The ex-dividend date of this dividend is Monday, April 22nd.

Tortoise Power and Energy Infrastructure Fund has raised its dividend by an average of 8.9% per year over the last three years.

Tortoise Power and Energy Infrastructure Fund Stock Up 1.6 %

TPZ opened at $15.11 on Friday. The business’s 50 day moving average is $15.00 and its 200-day moving average is $14.15. Tortoise Power and Energy Infrastructure Fund has a twelve month low of $12.45 and a twelve month high of $15.80.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several large investors have recently added to or reduced their stakes in TPZ. Envestnet Asset Management Inc. increased its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 29.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 124,765 shares of the investment management company’s stock valued at $1,749,000 after purchasing an additional 28,614 shares during the period. Royal Bank of Canada boosted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 11.2% during the 3rd quarter. Royal Bank of Canada now owns 22,057 shares of the investment management company’s stock worth $295,000 after acquiring an additional 2,219 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 11.2% in the 2nd quarter. Wells Fargo & Company MN now owns 35,976 shares of the investment management company’s stock worth $475,000 after acquiring an additional 3,636 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Tortoise Power and Energy Infrastructure Fund by 3.4% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 152,192 shares of the investment management company’s stock worth $2,010,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. raised its holdings in Tortoise Power and Energy Infrastructure Fund by 3.5% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 202,063 shares of the investment management company’s stock worth $2,597,000 after buying an additional 6,857 shares during the period.

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.