Thomas J. Herzfeld Advisors Inc. decreased its holdings in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 98.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,370 shares of the investment management company's stock after selling 165,402 shares during the quarter. Thomas J. Herzfeld Advisors Inc.'s holdings in Tortoise Power and Energy Infrastructure Fund were worth $48,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of TPZ. Kovitz Investment Group Partners LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the third quarter worth $13,071,000. Bard Associates Inc. grew its stake in shares of Tortoise Power and Energy Infrastructure Fund by 134.3% during the 4th quarter. Bard Associates Inc. now owns 473,321 shares of the investment management company's stock valued at $9,509,000 after purchasing an additional 271,266 shares during the period. Commonwealth Equity Services LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at about $2,907,000. Advisors Asset Management Inc. increased its position in shares of Tortoise Power and Energy Infrastructure Fund by 86.2% during the 4th quarter. Advisors Asset Management Inc. now owns 121,955 shares of the investment management company's stock valued at $2,447,000 after purchasing an additional 56,453 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 196.7% in the 4th quarter. D.A. Davidson & CO. now owns 108,308 shares of the investment management company's stock worth $2,173,000 after purchasing an additional 71,798 shares during the period.
Tortoise Power and Energy Infrastructure Fund Stock Performance
NYSE TPZ traded down $1.59 during trading hours on Friday, hitting $18.54. 53,162 shares of the company's stock traded hands, compared to its average volume of 43,168. Tortoise Power and Energy Infrastructure Fund, Inc. has a 52 week low of $14.70 and a 52 week high of $22.30. The business's fifty day moving average price is $20.70 and its two-hundred day moving average price is $20.09.
Tortoise Power and Energy Infrastructure Fund Cuts Dividend
The firm also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Thursday, February 27th were given a dividend of $0.0679 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date was Thursday, February 27th.
About Tortoise Power and Energy Infrastructure Fund
(
Free Report)
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.
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