Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Short Interest Up 169.7% in November

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 8,900 shares, a growth of 169.7% from the October 31st total of 3,300 shares. Based on an average daily trading volume, of 23,100 shares, the short-interest ratio is currently 0.4 days.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.7 %

Shares of NYSE TPZ traded up $0.14 during mid-day trading on Friday, hitting $20.82. 32,464 shares of the stock traded hands, compared to its average volume of 15,793. Tortoise Power and Energy Infrastructure Fund has a twelve month low of $13.36 and a twelve month high of $20.96. The firm has a 50 day simple moving average of $19.18 and a two-hundred day simple moving average of $17.48.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date was Friday, November 22nd.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the second quarter worth $109,000. Carmichael Hill & Associates Inc. grew its position in shares of Tortoise Power and Energy Infrastructure Fund by 3.4% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 21,429 shares of the investment management company’s stock valued at $338,000 after buying an additional 705 shares during the last quarter. Choreo LLC increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 7.7% in the second quarter. Choreo LLC now owns 44,574 shares of the investment management company’s stock valued at $702,000 after buying an additional 3,169 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Tortoise Power and Energy Infrastructure Fund by 13.6% during the second quarter. Envestnet Asset Management Inc. now owns 197,369 shares of the investment management company’s stock worth $3,116,000 after acquiring an additional 23,673 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Tortoise Power and Energy Infrastructure Fund during the second quarter worth about $258,000.

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.