TORTOISE POWER & ENRGY INFRA, ETF

Tortoise Power and Energy Infrastructure Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund’s primary investment objective to provide a high level of current income, with a secondary objective of capital appreciation. It seeks to invest primarily in fixed income and dividend-paying equity securities of power and energy infrastructure companies that provide stable and defensive characteristics throughout economic cycles. Under normal circumstances, the fund will invest a minimum of 51% of its total assets in fixed income securities. Under normal market conditions, the Fund will invest at least 80% of its total assets (including assets obtained through leverage) in issuers operating in essential asset sectors. Under normal conditions, the Fund may invest up to 30% of its total assets in securities of non-United States issuers, including Canadian issuers. The investment adviser of the Fund is Tortoise Capital Advisors, L.L.C. more