Concorde Asset Management LLC Invests $403,000 in Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ)

Concorde Asset Management LLC purchased a new position in shares of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 20,087 shares of the investment management company’s stock, valued at approximately $403,000.

Several other large investors have also bought and sold shares of the business. Harbor Investment Advisory LLC bought a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the 4th quarter valued at $27,000. JPMorgan Chase & Co. acquired a new stake in shares of Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth $47,000. Blue Bell Private Wealth Management LLC increased its holdings in Tortoise Power and Energy Infrastructure Fund by 2,266.8% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 6,414 shares of the investment management company’s stock valued at $129,000 after purchasing an additional 6,143 shares during the last quarter. Cerity Partners LLC acquired a new position in Tortoise Power and Energy Infrastructure Fund in the fourth quarter valued at about $205,000. Finally, Atomi Financial Group Inc. bought a new position in Tortoise Power and Energy Infrastructure Fund during the fourth quarter worth about $316,000.

Tortoise Power and Energy Infrastructure Fund Stock Down 2.7 %

Shares of TPZ stock opened at $18.38 on Friday. The stock has a 50-day moving average of $20.39 and a 200-day moving average of $20.09. Tortoise Power and Energy Infrastructure Fund, Inc. has a one year low of $14.70 and a one year high of $22.30.

Tortoise Power and Energy Infrastructure Fund Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Thursday, February 27th were paid a $0.0679 dividend. This represents a $0.81 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Thursday, February 27th.

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.