Wells Fargo & Company MN Acquires 33,185 Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Wells Fargo & Company MN lifted its position in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ - Free Report) by 85.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,872 shares of the investment management company's stock after buying an additional 33,185 shares during the quarter. Wells Fargo & Company MN's holdings in Tortoise Power and Energy Infrastructure Fund were worth $1,442,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TPZ. JPMorgan Chase & Co. acquired a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth about $47,000. LPL Financial LLC raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 628.5% in the 4th quarter. LPL Financial LLC now owns 97,849 shares of the investment management company's stock worth $1,963,000 after acquiring an additional 84,417 shares in the last quarter. Advisors Asset Management Inc. raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 86.2% in the 4th quarter. Advisors Asset Management Inc. now owns 121,955 shares of the investment management company's stock worth $2,447,000 after acquiring an additional 56,453 shares in the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth about $2,907,000. Finally, HighTower Advisors LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter worth about $1,383,000.

Tortoise Power and Energy Infrastructure Fund Price Performance

TPZ stock opened at $19.57 on Monday. The stock has a 50-day moving average price of $19.96 and a 200-day moving average price of $20.16. Tortoise Power and Energy Infrastructure Fund, Inc. has a 1-year low of $14.93 and a 1-year high of $22.30.

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 $0.0679 dividend. This represents a $0.81 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Thursday, February 27th.

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.

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