Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 169.7% in November

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 8,900 shares, a growth of 169.7% from the October 31st total of 3,300 shares. Based on an average daily trading volume, of 23,100 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 2nd quarter valued at $109,000. Sanctuary Advisors LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund in the second quarter valued at about $258,000. Quarry LP acquired a new position in Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth about $335,000. Carmichael Hill & Associates Inc. raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 3.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock worth $338,000 after purchasing an additional 705 shares in the last quarter. Finally, Choreo LLC raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 7.7% during the 2nd quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock worth $702,000 after purchasing an additional 3,169 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of Tortoise Power and Energy Infrastructure Fund stock opened at $20.68 on Thursday. Tortoise Power and Energy Infrastructure Fund has a 1 year low of $13.33 and a 1 year high of $20.96. The stock has a 50-day moving average price of $19.04 and a 200 day moving average price of $17.40.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a dividend of $0.105 per share. This represents a $1.26 annualized dividend and a dividend yield of 6.09%. The ex-dividend date is Friday, November 22nd.

Tortoise Power and Energy Infrastructure Fund Company Profile

Tortoise Power and Energy Infrastructure Fund, Inc is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors, LLC. The fund invests in the fixed income and public equity markets of the United States. It invests in securities of companies operating in the power and energy infrastructure sectors.