Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Down 70.7% in June

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 17,667 shares, a drop of 70.7% from the June 15th total of 60,385 shares. Based on an average daily volume of 11,973 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the first quarter worth about $31,000. JPMorgan Chase & Co. increased its position in Tortoise Power and Energy Infrastructure Fund by 233.8% in 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 during the period. Breakwater Capital Group acquired a new position in Tortoise Power and Energy Infrastructure Fund in the first quarter valued at approximately $204,000. Walleye Capital LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the second quarter worth approximately $213,000. Finally, First Trust Advisors LP boosted its holdings in Tortoise Power and Energy Infrastructure Fund by 19.4% during the third quarter. First Trust Advisors LP now owns 12,678 shares of the investment management company’s stock worth $266,000 after purchasing an additional 2,059 shares during the last quarter.

Tortoise Power and Energy Infrastructure Fund Stock Up 1.1%

TPZ traded up $0.24 during trading hours on Monday, hitting $22.30. The company’s stock had a trading volume of 8,672 shares, compared to its average volume of 13,049. Tortoise Power and Energy Infrastructure Fund has a fifty-two week low of $19.93 and a fifty-two week high of $23.03. The company has a 50-day simple moving average of $22.03 and a 200 day simple moving average of $21.77.

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.