Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 1,168.6% in June

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 60,385 shares, a growth of 1,168.6% from the May 31st total of 4,760 shares. Based on an average daily volume of 11,437 shares, the days-to-cover ratio is currently 5.3 days. Currently, 1.0% of the company’s shares are sold short.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of NYSE TPZ traded up $0.11 during midday trading on Friday, hitting $22.33. 2,698 shares of the company traded hands, compared to its average volume of 13,184. Tortoise Power and Energy Infrastructure Fund has a 12-month low of $19.93 and a 12-month high of $23.03. The stock has a 50-day moving average price of $22.05 and a 200 day moving average price of $21.66.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TPZ. Focus Partners Wealth bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at approximately $6,231,000. Cetera Investment Advisers boosted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 1,169.9% during the 1st quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company’s stock valued at $2,965,000 after buying an additional 124,837 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth about $870,000. OLD Mission Capital LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth about $351,000. Finally, Walleye Capital LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 2nd quarter worth about $213,000.

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.