Allspring Global Investments Holdings LLC Purchases Shares of 28,332 Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Allspring Global Investments Holdings LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 28,332 shares of the investment management company’s stock, valued at approximately $568,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of TPZ. Harbor Investment Advisory LLC acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at about $27,000. Atomi Financial Group Inc. acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 4th quarter valued at about $316,000. Quarry LP acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at about $335,000. Sanctuary Advisors LLC increased its holdings in shares of Tortoise Power and Energy Infrastructure Fund by 126.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 38,653 shares of the investment management company’s stock valued at $700,000 after purchasing an additional 21,589 shares during the period. Finally, Advisors Asset Management Inc. acquired a new position in shares of Tortoise Power and Energy Infrastructure Fund in the 3rd quarter valued at about $1,186,000.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.09, for a total value of $20,090,000.00. Following the transaction, the insider now owns 11,234 shares in the company, valued at approximately $225,691.06. This represents a 98.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Tortoise Power and Energy Infrastructure Fund Trading Down 1.2 %

Shares of TPZ opened at $20.80 on Tuesday. Tortoise Power and Energy Infrastructure Fund, Inc. has a fifty-two week low of $14.49 and a fifty-two week high of $22.30. The business’s 50-day moving average is $20.87 and its 200-day moving average is $19.61.

Tortoise Power and Energy Infrastructure Fund Increases Dividend

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

Tortoise Power and Energy Infrastructure Fund 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.