Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) to Issue — Dividend of $0.07 on January 31st

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) declared a — dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Thursday, January 30th will be given a dividend of 0.0679 per share by the investment management company on Friday, January 31st. The ex-dividend date of this dividend is Thursday, January 30th. This is a positive change from Tortoise Power and Energy Infrastructure Fund’s previous — dividend of $0.03.

Tortoise Power and Energy Infrastructure Fund Stock Down 1.7 %

Shares of NYSE TPZ opened at $20.92 on Friday. Tortoise Power and Energy Infrastructure Fund has a 12 month low of $14.04 and a 12 month high of $22.30. The business’s 50 day moving average is $20.65 and its two-hundred day moving average is $19.06.

Insider Transactions at Tortoise Power and Energy Infrastructure Fund

In other news, major shareholder Saba Capital Management, L.P. sold 1,000,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $20.09, for a total transaction of $20,090,000.00. Following the sale, the insider now directly owns 11,234 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website.

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.