Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Down 80.5% in May

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 4,760 shares, a drop of 80.5% from the May 14th total of 24,411 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 9,076 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TPZ. Focus Partners Wealth bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth $6,231,000. Cetera Investment Advisers raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 1,169.9% in the 1st quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company’s stock worth $2,965,000 after acquiring an additional 124,837 shares in the last quarter. Uhlmann Price Securities LLC raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% in the 3rd quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock worth $1,578,000 after acquiring an additional 21,418 shares in the last quarter. Evolve Private Wealth LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth $870,000. Finally, Osaic Holdings Inc. raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 7.1% in the 2nd quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock worth $547,000 after acquiring an additional 1,771 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.1%

TPZ traded up $0.03 during trading on Wednesday, hitting $21.60. 15,088 shares of the stock were exchanged, compared to its average volume of 13,492. The firm has a 50 day simple moving average of $22.11 and a 200 day simple moving average of $21.59. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $19.64 and a 1 year high of $23.03.

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.