Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Pass Below 50-Day Moving Average – Here’s What Happened

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $20.85 and traded as low as $20.55. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.6250, with a volume of 9,583 shares traded.

Tortoise Power and Energy Infrastructure Fund Stock Up 0.2%

The company’s 50 day moving average price is $20.85 and its 200 day moving average price is $20.75.

Insider Activity at Tortoise Power and Energy Infrastructure Fund

In related news, Director Andrew J. Iseman purchased 2,000 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were bought at an average price of $21.20 per share, for a total transaction of $42,400.00. Following the acquisition, the director directly owned 2,000 shares in the company, valued at $42,400. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TPZ. Breakthru Advisory Services LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $7,889,000. Journey Advisory Group LLC lifted its position in Tortoise Power and Energy Infrastructure Fund by 5.7% in the second quarter. Journey Advisory Group LLC now owns 578,866 shares of the investment management company’s stock valued at $10,916,000 after purchasing an additional 31,124 shares during the period. Advisors Asset Management Inc. boosted its holdings in Tortoise Power and Energy Infrastructure Fund by 0.6% in the 1st quarter. Advisors Asset Management Inc. now owns 122,686 shares of the investment management company’s stock valued at $2,533,000 after purchasing an additional 731 shares in the last quarter. D.A. Davidson & CO. increased its position in Tortoise Power and Energy Infrastructure Fund by 4.5% during the 2nd quarter. D.A. Davidson & CO. now owns 129,742 shares of the investment management company’s stock worth $2,660,000 after purchasing an additional 5,574 shares during the period. Finally, Uhlmann Price Securities LLC raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% during the 3rd quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock worth $1,578,000 after buying an additional 21,418 shares in the last quarter.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund, Inc (NYSE: TPZ) is a closed-end management investment company that seeks total return through a mix of current income and capital appreciation. The fund pursues its objectives by investing primarily in exchange-listed closed-end funds that themselves hold securities of energy infrastructure companies. This fund-of-funds structure allows TPZ to offer diversified exposure to multiple segments of the energy infrastructure sector without directly purchasing individual corporate securities.

TPZ’s underlying investments include equity, debt and hybrid instruments issued by companies involved in the transportation, storage and processing of oil and natural gas, as well as utilities and power generation businesses.