Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) to Issue — Dividend of $0.03

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) announced a — dividend on Tuesday, December 31st,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.0252 per share by the investment management company on Thursday, January 2nd. The ex-dividend date is Tuesday, December 31st.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Shares of NYSE TPZ opened at $20.07 on Thursday. Tortoise Power and Energy Infrastructure Fund has a 52-week low of $13.79 and a 52-week high of $20.99. The stock’s fifty day simple moving average is $19.92 and its 200 day simple moving average is $18.24.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 347,278 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were bought at an average cost of $13.78 per share, with a total value of $4,785,490.84. Following the purchase, the insider now directly owns 1,011,234 shares in the company, valued at $13,934,804.52. This trade represents a 52.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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.