Concorde Asset Management LLC Buys Shares of 20,087 Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Concorde Asset Management LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 20,087 shares of the investment management company's stock, valued at approximately $403,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth about $27,000. JPMorgan Chase & Co. purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at $47,000. Blue Bell Private Wealth Management LLC grew its holdings in Tortoise Power and Energy Infrastructure Fund by 2,266.8% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 6,414 shares of the investment management company's stock valued at $129,000 after purchasing an additional 6,143 shares in the last quarter. Cerity Partners LLC purchased a new position in Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at about $205,000. Finally, Atomi Financial Group Inc. purchased a new position in Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at about $316,000.

Tortoise Power and Energy Infrastructure Fund Price Performance

TPZ stock remained flat at $19.19 during midday trading on Wednesday. The company's stock had a trading volume of 39,835 shares, compared to its average volume of 44,278. The business has a 50-day moving average of $20.25 and a 200 day moving average of $20.10. Tortoise Power and Energy Infrastructure Fund, Inc. has a 52 week low of $14.70 and a 52 week high of $22.30.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.0679 per share. The ex-dividend date was Thursday, February 27th. This represents a $0.81 dividend on an annualized basis and a yield of 4.24%.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.