Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) to Issue Monthly Dividend of $0.11 on April 30th

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) announced a monthly dividend on Wednesday, April 10th, Wall Street Journal reports. Shareholders of record on Tuesday, April 23rd will be paid a dividend of 0.105 per share by the investment management company on Tuesday, April 30th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 8.34%. The ex-dividend date of this dividend is Monday, April 22nd.

Tortoise Power and Energy Infrastructure Fund has raised its dividend by an average of 8.9% annually over the last three years.

Tortoise Power and Energy Infrastructure Fund Stock Performance

TPZ stock opened at $15.11 on Friday. Tortoise Power and Energy Infrastructure Fund has a fifty-two week low of $12.45 and a fifty-two week high of $15.80. The business has a 50 day moving average price of $15.00 and a 200 day moving average price of $14.15.

Institutional Trading of Tortoise Power and Energy Infrastructure Fund

Large investors have recently made changes to their positions in the company. Captrust Financial Advisors purchased a new stake in Tortoise Power and Energy Infrastructure Fund in the second quarter valued at approximately $129,000. First Trust Advisors LP acquired a new position in Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at about $133,000. Eudaimonia Partners LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the 1st quarter valued at approximately $158,000. First Republic Investment Management Inc. acquired a new stake in Tortoise Power and Energy Infrastructure Fund during the 4th quarter worth approximately $188,000. Finally, Zimmer Partners LP purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 1st quarter valued at approximately $193,000.

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.