Sanctuary Advisors LLC Increases Stock Position in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Sanctuary Advisors LLC increased its stake in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) by 19.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,133 shares of the investment management company’s stock after buying an additional 7,480 shares during the quarter. Sanctuary Advisors LLC’s holdings in Tortoise Power and Energy Infrastructure Fund were worth $982,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $13,071,000. Advisors Asset Management Inc. purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $1,186,000. Allspring Global Investments Holdings LLC purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $568,000. Quarry LP purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the third quarter worth about $335,000. Finally, Atomi Financial Group Inc. purchased a new stake in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $316,000.

Insider Buying and Selling at Tortoise Power and Energy Infrastructure Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 347,278 shares of Tortoise Power and Energy Infrastructure Fund stock in a transaction dated Tuesday, December 24th. The shares were purchased at an average cost of $13.78 per share, with a total value of $4,785,490.84. Following the completion of the purchase, the insider now owns 1,011,234 shares of the company’s stock, valued at $13,934,804.52. This represents a 52.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tortoise Power and Energy Infrastructure Fund Trading Up 0.7 %

Shares of NYSE:TPZ opened at $20.54 on Thursday. Tortoise Power and Energy Infrastructure Fund, Inc. has a twelve month low of $14.50 and a twelve month high of $22.30. The company has a 50-day moving average price of $20.90 and a two-hundred day moving average price of $19.64.

Tortoise Power and Energy Infrastructure Fund Increases Dividend

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

About Tortoise Power and Energy Infrastructure Fund

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.