Tortoise Power and Energy Infrastructure Fund, Inc. Declares — Dividend of $0.03 (NYSE:TPZ)

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) declared a — dividend on Tuesday, December 31st,Wall Street Journal reports. Shareholders of record on Tuesday, December 31st will be paid a dividend of 0.0252 per share by the investment management company on Thursday, January 2nd. The ex-dividend date is Tuesday, December 31st.

Tortoise Power and Energy Infrastructure Fund Stock Performance

Shares of TPZ traded down $0.01 during mid-day trading on Tuesday, reaching $20.07. The company had a trading volume of 166,849 shares, compared to its average volume of 26,907. The firm has a 50-day moving average price of $19.87 and a 200 day moving average price of $18.20. Tortoise Power and Energy Infrastructure Fund has a 52 week low of $13.79 and a 52 week high of $20.99.

Insider Buying and Selling at Tortoise Power and Energy Infrastructure Fund

In related news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the firm’s 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 $225,691.06. This trade represents a 98.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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.