Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $20.65 and traded as high as $20.99. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.7290, with a volume of 7,580 shares traded.

Tortoise Power and Energy Infrastructure Fund Stock Performance

The firm has a 50 day moving average price of $20.65 and a 200 day moving average price of $20.82.

Insider Activity at Tortoise Power and Energy Infrastructure Fund

In other Tortoise Power and Energy Infrastructure Fund news, Director Andrew J. Iseman purchased 2,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average price of $21.20 per share, with a total value of $42,400.00. Following the transaction, the director owned 2,000 shares of the company’s stock, valued at approximately $42,400. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

A number of large investors have recently bought and sold shares of TPZ. JPMorgan Chase & Co. boosted its position in Tortoise Power and Energy Infrastructure Fund by 233.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,800 shares of the investment management company’s stock valued at $160,000 after acquiring an additional 5,463 shares in the last quarter. Walleye Capital LLC bought a new stake in Tortoise Power and Energy Infrastructure Fund during the second quarter valued at about $213,000. First Trust Advisors LP grew its stake in Tortoise Power and Energy Infrastructure Fund by 19.4% in the third quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock valued at $266,000 after purchasing an additional 2,059 shares during the last quarter. Osaic Holdings Inc. grew its stake in Tortoise Power and Energy Infrastructure Fund by 7.1% in the second quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock valued at $547,000 after purchasing an additional 1,771 shares during the last quarter. Finally, Uhlmann Price Securities LLC raised its holdings in Tortoise Power and Energy Infrastructure Fund by 39.9% in the third quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock worth $1,578,000 after purchasing an additional 21,418 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Company Profile

Tortoise Power and Energy Infrastructure Fund, Inc (NYSE: TPZ) is a closed-end management investment company that seeks total return through a mix of current income and capital appreciation. The fund pursues its objectives by investing primarily in exchange-listed closed-end funds that themselves hold securities of energy infrastructure companies. This fund-of-funds structure allows TPZ to offer diversified exposure to multiple segments of the energy infrastructure sector without directly purchasing individual corporate securities.

TPZ’s underlying investments include equity, debt and hybrid instruments issued by companies involved in the transportation, storage and processing of oil and natural gas, as well as utilities and power generation businesses.