Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) Sees Significant Increase in Short Interest

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 60,385 shares, an increase of 1,168.6% from the May 31st total of 4,760 shares. Approximately 1.0% of the company’s shares are sold short. Based on an average daily trading volume, of 11,437 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Investors Weigh In On Tortoise Power and Energy Infrastructure Fund

Several large investors have recently added to or reduced their stakes in TPZ. JPMorgan Chase & Co. grew its stake 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 worth $160,000 after acquiring an additional 5,463 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the second quarter valued at approximately $213,000. Osaic Holdings Inc. boosted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 7.1% in the second quarter. Osaic Holdings Inc. now owns 26,701 shares of the investment management company’s stock valued at $547,000 after purchasing an additional 1,771 shares during the period. First Trust Advisors LP boosted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% in 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. Finally, Focus Partners Wealth bought a new position in Tortoise Power and Energy Infrastructure Fund in the fourth quarter worth approximately $6,231,000.

Tortoise Power and Energy Infrastructure Fund Price Performance

Shares of TPZ stock traded up $0.07 on Friday, reaching $22.29. 18,058 shares of the company’s stock were exchanged, compared to its average volume of 13,318. Tortoise Power and Energy Infrastructure Fund has a 52 week low of $19.93 and a 52 week high of $23.03. The company’s fifty day simple moving average is $22.06 and its 200 day simple moving average is $21.66.

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.