Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $21.00 and traded as high as $21.16. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.0760, with a volume of 5,715 shares.

Tortoise Power and Energy Infrastructure Fund Stock Performance

The business’s 50 day simple moving average is $21.00 and its 200 day simple moving average is $20.52.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised 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 purchasing an additional 5,463 shares during the period. Walleye Capital LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund during the second quarter valued at $213,000. Osaic Holdings Inc. grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.1% during the second quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock valued at $547,000 after buying an additional 1,771 shares in the last quarter. Uhlmann Price Securities LLC raised its position in Tortoise Power and Energy Infrastructure Fund by 39.9% during the third quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock valued at $1,578,000 after buying an additional 21,418 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake 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 worth $2,533,000 after acquiring an additional 731 shares in the last quarter.

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.