Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s share price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $20.88 and traded as high as $22.40. Tortoise Power and Energy Infrastructure Fund shares last traded at $22.39, with a volume of 10,375 shares trading hands.

Tortoise Power and Energy Infrastructure Fund Stock Up 0.4%

The firm has a 50 day moving average of $20.88 and a 200-day moving average of $20.91.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several institutional investors and hedge funds have recently made changes to their positions in TPZ. OLD Mission Capital LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth about $351,000. Evolve Private Wealth LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth approximately $870,000. Focus Partners Wealth purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth approximately $6,231,000. First Trust Advisors LP boosted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% during the third quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock valued at $266,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Uhlmann Price Securities LLC increased its holdings in Tortoise Power and Energy Infrastructure Fund by 39.9% during 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 buying an additional 21,418 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.