Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) to Issue Monthly Dividend of $0.07 on February 28th

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) declared a monthly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Thursday, February 27th will be paid a dividend of 0.0679 per share by the investment management company on Friday, February 28th. This represents a $0.81 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, February 27th.

Tortoise Power and Energy Infrastructure Fund Stock Up 2.1 %

Tortoise Power and Energy Infrastructure Fund stock opened at $20.79 on Friday. The company has a 50 day moving average price of $20.92 and a 200-day moving average price of $19.64. Tortoise Power and Energy Infrastructure Fund has a fifty-two week low of $14.53 and a fifty-two week high of $22.30.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of Tortoise Power and Energy Infrastructure Fund stock in a transaction that occurred on 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 completion of the sale, the insider now owns 11,234 shares of the company’s stock, valued at approximately $225,691.06. The trade was a 98.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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.