Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Down 80.5% in May

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a significant decrease in short interest in May. As of May 29th, there was short interest totaling 4,760 shares, a decrease of 80.5% from the May 14th total of 24,411 shares. Based on an average daily volume of 9,076 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the shares of the stock are short sold.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of TPZ stock traded up $0.04 during trading hours on Thursday, reaching $21.65. 12,761 shares of the company were exchanged, compared to its average volume of 13,484. Tortoise Power and Energy Infrastructure Fund has a fifty-two week low of $19.64 and a fifty-two week high of $23.03. The stock’s fifty day moving average is $22.10 and its two-hundred day moving average is $21.60.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

A number of institutional investors and hedge funds have recently modified their holdings of TPZ. JPMorgan Chase & Co. lifted its stake in Tortoise Power and Energy Infrastructure Fund by 233.8% in the second 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 during the last quarter. Walleye Capital LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth approximately $213,000. Osaic Holdings Inc. raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.1% in the second quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock valued at $547,000 after purchasing an additional 1,771 shares during the last quarter. Uhlmann Price Securities LLC raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% in the third quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock valued at $1,578,000 after purchasing an additional 21,418 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% in the third 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 during the period.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.