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

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $20.72 and traded as high as $21.03. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.8650, with a volume of 4,399 shares trading hands.

Tortoise Power and Energy Infrastructure Fund Stock Performance

The company’s fifty day moving average is $20.72 and its 200-day moving average is $21.63.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Investment Advisers boosted its position in Tortoise Power and Energy Infrastructure Fund by 1,169.9% during the 1st quarter. Cetera Investment Advisers now owns 135,508 shares of the investment management company’s stock valued at $2,965,000 after acquiring an additional 124,837 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at $1,300,000. Davidson Trust Co. bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth $458,000. Commonwealth Equity Services LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth $423,000. Finally, Atlas Wealth LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter worth $317,000.

Tortoise Power and Energy Infrastructure Fund Company Profile

Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) is a closed-end investment fund focused on the power and energy infrastructure sector. The fund seeks to provide current income and long-term capital appreciation by investing in a portfolio of debt and equity securities issued by companies involved in power generation, electric transmission and distribution, energy transportation, and related infrastructure. Its investments may include utility companies, independent power producers, midstream energy businesses, renewable energy developers, and other firms that own or operate essential energy infrastructure.