J.W. Cole Advisors Inc. Takes $174,000 Position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

J.W. Cole Advisors Inc. bought a new position in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) during the fourth quarter, HoldingsChannel reports. The firm bought 12,400 shares of the investment management company’s stock, valued at approximately $174,000.

A number of other institutional investors have also added to or reduced their stakes in TPZ. Thomas J. Herzfeld Advisors Inc. grew its position in Tortoise Power and Energy Infrastructure Fund by 14.5% during the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 208,471 shares of the investment management company’s stock worth $2,785,000 after buying an additional 26,347 shares in the last quarter. Saba Capital Management L.P. boosted its holdings in Tortoise Power and Energy Infrastructure Fund by 7.3% during the third quarter. Saba Capital Management L.P. now owns 177,876 shares of the investment management company’s stock valued at $2,376,000 after purchasing an additional 12,105 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Tortoise Power and Energy Infrastructure Fund by 5.6% during the third quarter. D.A. Davidson & CO. now owns 30,173 shares of the investment management company’s stock valued at $403,000 after purchasing an additional 1,599 shares in the last quarter.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.1 %

NYSE:TPZ opened at $15.16 on Friday. The firm has a 50 day moving average of $15.05 and a 200-day moving average of $14.20. Tortoise Power and Energy Infrastructure Fund, Inc. has a 1 year low of $12.45 and a 1 year high of $15.80.

Tortoise Power and Energy Infrastructure Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 23rd will be issued a dividend of $0.105 per share. This represents a $1.26 dividend on an annualized basis and a yield of 8.31%. The ex-dividend date is Monday, April 22nd.

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.