Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Passes Above Fifty Day Moving Average – Time to Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) shares passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $18.39 and traded as high as $18.83. Tortoise Power and Energy Infrastructure Fund shares last traded at $18.69, with a volume of 9,359 shares.

Tortoise Power and Energy Infrastructure Fund Stock Up 0.2 %

The stock’s fifty day moving average price is $18.39 and its two-hundred day moving average price is $16.77.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 24th were given a dividend of $0.105 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.26 annualized dividend and a yield of 6.74%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TPZ. Carmichael Hill & Associates Inc. grew its position in Tortoise Power and Energy Infrastructure Fund by 3.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock worth $338,000 after acquiring an additional 705 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.8% in the first quarter. J.W. Cole Advisors Inc. now owns 13,367 shares of the investment management company’s stock worth $208,000 after purchasing an additional 967 shares during the last quarter. Choreo LLC increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 7.7% in the second quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock worth $702,000 after buying an additional 3,169 shares during the period. Wolverine Asset Management LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the 2nd quarter valued at $109,000. Finally, Sanctuary Advisors LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 2nd quarter valued at $258,000.

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.