TPZ TORTOISE POWER & ENERGY INFRASTRUCTURE FUND INC Insider Trading

Director Andrew J Iseman purchased 2,000 shares of TPZ at $21.20 on 2025-11-12

Iseman purchased 2,000 shares of Tortoise Power & Energy Infrastructure Fund Inc at $21.20 for a total value of $42,393.40, establishing his first position in the fund. The transaction occurred when TPZ was trading within its 52-week range, at $21.02 currently—approximately 0.8% below the purchase price. With only 1 prior buy across his open-market history on all tickers, this represents a modest entry-level commitment with limited visibility into his conviction or pattern at this specific holding.

10% owner Saba Capital sold 1,000,000 shares at $20.09 (Dec 26), exiting 98.3% of position

Saba Capital Management executed two transactions in a 2-day window: bought 347,278 shares at $13.78 on December 24, then sold 1,000,000 shares at $20.09 on December 26, reducing its position from 663,956 shares to 11,234 shares (a -98.3% net reduction). The sale occurred at $20.09, near the 52-week high of $20.90, while the stock currently trades at $20.06. This represents a dramatic exit from the fund, with the 1-million-share sale at $20.09 vastly outweighing the concurrent purchase of 347,278 shares at $13.78. While Saba's cross-ticker track record shows 18 prior buys and only 2 prior sells, this transaction pattern—a large purchase followed immediately by a significantly larger sale—signals a material shift in the 10% owner's investment posture in TPZ. The scale of the divestiture, the timing near all-time valuation levels, and the reduction to a near-insignificant holding warrant investor attention to whether the fund has undergone changes affecting its investment thesis.