D.A. Davidson & CO. Decreases Stock Position in Tortoise Power and Energy Infrastructure Fund, Inc. $TPZ

D.A. Davidson & CO. lessened its holdings in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) by 29.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 82,440 shares of the investment management company’s stock after selling 34,778 shares during the period. D.A. Davidson & CO.’s holdings in Tortoise Power and Energy Infrastructure Fund were worth $1,804,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Sound Income Strategies LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at approximately $31,000. JPMorgan Chase & Co. lifted its stake in Tortoise Power and Energy Infrastructure Fund by 233.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock valued at $160,000 after acquiring an additional 5,463 shares during the period. Breakwater Capital Group acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the first quarter worth $204,000. Walleye Capital LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter valued at about $213,000. Finally, First Trust Advisors LP boosted its position in Tortoise Power and Energy Infrastructure Fund by 19.4% in the 3rd quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock worth $266,000 after purchasing an additional 2,059 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of NYSE TPZ opened at $22.00 on Wednesday. The company’s fifty day moving average price is $21.99 and its 200 day moving average price is $21.84. Tortoise Power and Energy Infrastructure Fund, Inc. has a 1 year low of $19.93 and a 1 year high of $23.03.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.