Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $20.70 and traded as high as $21.40. Tortoise Power and Energy Infrastructure Fund shares last traded at $21.07, with a volume of 26,163 shares.

Tortoise Power and Energy Infrastructure Fund Stock Down 0.2 %

The firm’s 50 day moving average price is $20.70 and its 200-day moving average price is $19.19.

Tortoise Power and Energy Infrastructure Fund Increases Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, January 31st. Investors of record on Thursday, January 30th were given a $0.0679 dividend. The ex-dividend date of this dividend was Thursday, January 30th. This is a boost from Tortoise Power and Energy Infrastructure Fund’s previous — dividend of $0.03.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $20.09, for a total transaction of $20,090,000.00. Following the sale, the insider now owns 11,234 shares of the company’s stock, valued at $225,691.06. This trade represents a 98.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter valued at $1,383,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Tortoise Power and Energy Infrastructure Fund by 2,266.8% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 6,414 shares of the investment management company’s stock valued at $129,000 after purchasing an additional 6,143 shares during the period. Bard Associates Inc. increased its position in shares of Tortoise Power and Energy Infrastructure Fund by 134.3% during the 4th quarter. Bard Associates Inc. now owns 473,321 shares of the investment management company’s stock valued at $9,509,000 after purchasing an additional 271,266 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Tortoise Power and Energy Infrastructure Fund by 196.7% in the 4th quarter. D.A. Davidson & CO. now owns 108,308 shares of the investment management company’s stock worth $2,173,000 after purchasing an additional 71,798 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 19.4% in the fourth quarter. Sanctuary Advisors LLC now owns 46,133 shares of the investment management company’s stock worth $982,000 after buying an additional 7,480 shares during the last quarter.

Tortoise Power and Energy Infrastructure Fund Company Profile

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.