Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Stock Short Interest Drops 39.6%

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 4,504 shares, a drop of 39.6% from the September 30th total of 7,459 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 8,052 shares, the short-interest ratio is presently 0.6 days.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Several large investors have recently made changes to their positions in TPZ. Cetera Investment Advisers lifted its position in 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 worth $2,965,000 after buying an additional 124,837 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the 3rd quarter worth about $423,000. D.A. Davidson & CO. acquired a new stake in Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at about $1,300,000. Davidson Trust Co. acquired a new stake in Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at about $458,000. Finally, NWF Advisory Services Inc. raised its stake in shares of Tortoise Power and Energy Infrastructure Fund by 16.6% in the first quarter. NWF Advisory Services Inc. now owns 16,189 shares of the investment management company’s stock worth $354,000 after acquiring an additional 2,300 shares during the last quarter.

Tortoise Power and Energy Infrastructure Fund Trading Up 1.2%

TPZ stock traded up $0.24 during midday trading on Tuesday, reaching $21.19. 7,027 shares of the company’s stock traded hands, compared to its average volume of 11,174. The company has a 50-day simple moving average of $20.89 and a two-hundred day simple moving average of $21.64. Tortoise Power and Energy Infrastructure Fund has a 1-year low of $19.68 and a 1-year high of $23.03.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) is a closed-end investment fund focused on the power and energy infrastructure sector. The fund seeks to provide current income and long-term capital appreciation by investing in a portfolio of debt and equity securities issued by companies involved in power generation, electric transmission and distribution, energy transportation, and related infrastructure.

Its investments may include utility companies, independent power producers, midstream energy businesses, renewable energy developers, and other firms that own or operate essential energy infrastructure.