Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Shares Sold by Thomas J. Herzfeld Advisors Inc.

Thomas J. Herzfeld Advisors Inc. trimmed its position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) by 98.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,370 shares of the investment management company’s stock after selling 165,402 shares during the period. Thomas J. Herzfeld Advisors Inc.’s holdings in Tortoise Power and Energy Infrastructure Fund were worth $48,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPZ. JPMorgan Chase & Co. bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth $47,000. LPL Financial LLC grew its holdings in Tortoise Power and Energy Infrastructure Fund by 628.5% during the fourth quarter. LPL Financial LLC now owns 97,849 shares of the investment management company’s stock worth $1,963,000 after acquiring an additional 84,417 shares during the period. Advisors Asset Management Inc. raised its position in Tortoise Power and Energy Infrastructure Fund by 86.2% in the fourth quarter. Advisors Asset Management Inc. now owns 121,955 shares of the investment management company’s stock worth $2,447,000 after acquiring an additional 56,453 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at about $2,907,000. Finally, HighTower Advisors LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at about $1,383,000.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.3 %

Shares of TPZ opened at $20.62 on Tuesday. The firm’s 50 day moving average is $20.85 and its 200-day moving average is $20.06. Tortoise Power and Energy Infrastructure Fund, Inc. has a 12-month low of $14.70 and a 12-month high of $22.30.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 27th were given a $0.0679 dividend. The ex-dividend date was Thursday, February 27th. This represents a $0.81 annualized dividend and a yield of 3.95%.

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.