Short Interest in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Drops By 70.7%

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totaling 17,667 shares, a decrease of 70.7% from the June 15th total of 60,385 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average trading volume of 11,973 shares, the short-interest ratio is currently 1.5 days.

Tortoise Power and Energy Infrastructure Fund Trading Down 0.1%

NYSE:TPZ traded down $0.03 during mid-day trading on Tuesday, hitting $22.24. The stock had a trading volume of 4,936 shares, compared to its average volume of 12,987. The company has a 50 day simple moving average of $22.02 and a 200-day simple moving average of $21.78. Tortoise Power and Energy Infrastructure Fund has a 52 week low of $19.93 and a 52 week high of $23.03.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Large investors have recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund during the first quarter worth approximately $31,000. Osaic Holdings Inc. increased its position in 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 valued at $547,000 after acquiring an additional 1,771 shares during the period. First Trust Advisors LP raised its stake in Tortoise Power and Energy Infrastructure Fund by 19.4% during the 3rd quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock valued at $266,000 after acquiring an additional 2,059 shares in the last quarter. NWF Advisory Services Inc. raised its stake in Tortoise Power and Energy Infrastructure Fund by 16.6% during the 1st quarter. NWF Advisory Services Inc. now owns 16,189 shares of the investment management company’s stock valued at $354,000 after acquiring an additional 2,300 shares in the last quarter. Finally, 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 acquiring an additional 5,463 shares in 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.