Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ – Get Free Report) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $21.99 and traded as low as $21.93. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.9950, with a volume of 5,134 shares traded.
Tortoise Power and Energy Infrastructure Fund Price Performance
The firm’s 50 day simple moving average is $21.99 and its 200-day simple moving average is $21.84.
Institutional Trading of Tortoise Power and Energy Infrastructure Fund
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund during the 1st quarter worth approximately $31,000. JPMorgan Chase & Co. grew its stake in shares of Tortoise Power and Energy Infrastructure Fund by 233.8% in the second quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock valued at $160,000 after buying an additional 5,463 shares in the last quarter. Breakwater Capital Group bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the first quarter valued at $204,000. Walleye Capital LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund during the second quarter worth $213,000. Finally, First Trust Advisors LP increased its holdings in Tortoise Power and Energy Infrastructure Fund by 19.4% during the third quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock worth $266,000 after buying an additional 2,059 shares during 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.
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