Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 1,168.6% in June

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 60,385 shares, a growth of 1,168.6% from the May 31st total of 4,760 shares. Based on an average trading volume of 11,437 shares, the days-to-cover ratio is currently 5.3 days. Approximately 1.0% of the shares of the company are short sold.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.5%

Shares of NYSE:TPZ traded up $0.12 on Thursday, hitting $22.22. The company’s stock had a trading volume of 11,155 shares, compared to its average volume of 13,279. Tortoise Power and Energy Infrastructure Fund has a 12 month low of $19.93 and a 12 month high of $23.03. The stock’s 50-day moving average is $22.05 and its two-hundred day moving average is $21.66.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Partners Wealth acquired a new position in Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at about $6,231,000. Cetera Investment Advisers lifted its stake 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 during the period. Evolve Private Wealth LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth approximately $870,000. OLD Mission Capital LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at approximately $351,000. Finally, Walleye Capital LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the second quarter valued at approximately $213,000.

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.