Short Interest in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Drops By 80.2%

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 5,158 shares, a drop of 80.2% from the July 15th total of 26,006 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 10,905 shares, the short-interest ratio is currently 0.5 days.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Shares of TPZ opened at $21.39 on Wednesday. The stock has a fifty day moving average price of $21.81 and a 200 day moving average price of $21.96. Tortoise Power and Energy Infrastructure Fund has a 12 month low of $19.93 and a 12 month high of $23.03.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

A number of hedge funds have recently made changes to their positions in TPZ. Sound Income Strategies LLC bought a new position in Tortoise Power and Energy Infrastructure Fund in the 1st quarter worth approximately $31,000. 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 worth $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 during the 1st quarter worth $204,000. Walleye Capital LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund in the second quarter worth $213,000. Finally, First Trust Advisors LP increased its holdings in shares of 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 valued at $266,000 after purchasing an additional 2,059 shares during the period.

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.