Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Sees Large Decrease in Short Interest

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 4,504 shares, a decrease of 39.6% from the September 30th total of 7,459 shares. Based on an average daily trading volume, of 8,052 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sound Income Strategies LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at about $31,000. NWF Advisory Services Inc. increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 16.6% in the 1st quarter. NWF Advisory Services Inc. now owns 16,189 shares of the investment management company’s stock valued at $354,000 after purchasing an additional 2,300 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at about $423,000. Davidson Trust Co. acquired a new position in Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth about $458,000. Finally, D.A. Davidson & CO. acquired a new position in Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth about $1,300,000.

Tortoise Power and Energy Infrastructure Fund Stock Performance

NYSE TPZ traded down $0.55 during mid-day trading on Monday, reaching $20.95. 4,266 shares of the stock were exchanged, compared to its average volume of 11,195. The business’s 50 day moving average is $20.89 and its 200-day moving average is $21.64. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $19.68 and a 1 year high of $23.03.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) is a closed-end investment fund focused on the power and energy infrastructure sector. The fund seeks to provide current income and long-term capital appreciation by investing in a portfolio of debt and equity securities issued by companies involved in power generation, electric transmission and distribution, energy transportation, and related infrastructure.

Its investments may include utility companies, independent power producers, midstream energy businesses, renewable energy developers, and other firms that own or operate essential energy infrastructure.