Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Cross Below 50-Day Moving Average – Time to Sell?

by · The Markets Daily

Shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ – Get Free Report) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $20.97 and traded as low as $20.33. Tortoise Power and Energy Infrastructure Fund shares last traded at $20.3550, with a volume of 6,415 shares.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.0%

The stock has a 50 day moving average of $20.95 and a 200-day moving average of $20.72.

Insider Activity

In related news, Director Andrew J. Iseman acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $21.20 per share, with a total value of $42,400.00. Following the acquisition, the director owned 2,000 shares of the company’s stock, valued at approximately $42,400. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Tortoise Power and Energy Infrastructure Fund

A number of large investors have recently bought and sold shares of TPZ. Journey Advisory Group LLC raised its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 5.7% during the second quarter. Journey Advisory Group LLC now owns 578,866 shares of the investment management company’s stock valued at $10,916,000 after acquiring an additional 31,124 shares in the last quarter. Breakthru Advisory Services LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the third quarter worth about $7,889,000. D.A. Davidson & CO. boosted its position in Tortoise Power and Energy Infrastructure Fund by 2.0% during the 3rd quarter. D.A. Davidson & CO. now owns 132,373 shares of the investment management company’s stock valued at $2,781,000 after acquiring an additional 2,631 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Tortoise Power and Energy Infrastructure Fund by 0.6% during the 1st quarter. Advisors Asset Management Inc. now owns 122,686 shares of the investment management company’s stock valued at $2,533,000 after acquiring an additional 731 shares in the last quarter. Finally, Uhlmann Price Securities LLC boosted its position in shares of Tortoise Power and Energy Infrastructure Fund by 39.9% during the third quarter. Uhlmann Price Securities LLC now owns 75,129 shares of the investment management company’s stock valued at $1,578,000 after purchasing an additional 21,418 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Company Profile

(Get Free Report)

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.

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