Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Shares Pass Below 200-Day Moving Average – What’s Next?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $21.94 and traded as low as $21.14. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.1910, with a volume of 8,965 shares trading hands.

Tortoise Power and Energy Infrastructure Fund Price Performance

The business has a 50 day moving average price of $21.84 and a 200 day moving average price of $21.94.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Focus Partners Wealth acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at about $6,231,000. Cetera Investment Advisers increased its stake in Tortoise Power and Energy Infrastructure Fund by 1,169.9% in the first 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 during the period. Evolve Private Wealth LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth about $870,000. OLD Mission Capital LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth about $351,000. Finally, Walleye Capital LLC bought a new position in Tortoise Power and Energy Infrastructure Fund during the second quarter worth about $213,000.

About Tortoise Power and Energy Infrastructure Fund

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.