D.A. Davidson & CO. purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,258 shares of the investment management company’s stock, valued at approximately $271,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG boosted its position in shares of Tortoise Power and Energy Infrastructure Fund by 5.6% during the second quarter. UBS Group AG now owns 62,895 shares of the investment management company’s stock valued at $787,000 after buying an additional 3,353 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the second quarter valued at $129,000. Truist Financial Corp boosted its position in shares of Tortoise Power and Energy Infrastructure Fund by 70.4% during the third quarter. Truist Financial Corp now owns 26,179 shares of the investment management company’s stock valued at $327,000 after buying an additional 10,820 shares during the last quarter. Eudaimonia Partners LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the first quarter valued at $158,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the third quarter valued at $194,000.
Analyst Upgrades and Downgrades
Separately, Royal Bank of Canada dropped their price objective on Tortoise Power and Energy Infrastructure Fund from $30.00 to $28.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 1st.
Tortoise Power and Energy Infrastructure Fund Price Performance
Shares of NYSE:TPZ opened at $12.81 on Wednesday. The stock’s 50-day simple moving average is $12.90 and its two-hundred day simple moving average is $13.19. Tortoise Power and Energy Infrastructure Fund, Inc. has a 52-week low of $11.91 and a 52-week high of $14.60.
Tortoise Power and Energy Infrastructure Fund Dividend Announcement
The company also recently announced a monthly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 21st were given a $0.105 dividend. The ex-dividend date was Thursday, April 20th. This represents a $1.26 annualized dividend and a yield of 9.84%.
About Tortoise Power and Energy Infrastructure Fund
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.
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