Tortoise Energy Infrastructure (NYSE:TYG) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.77 and traded as high as $43.08. Tortoise Energy Infrastructure shares last traded at $42.6250, with a volume of 144,006 shares trading hands.

Tortoise Energy Infrastructure Price Performance

The company’s 50 day moving average is $43.19 and its 200 day moving average is $42.77.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 13.4%.

Insider Buying and Selling at Tortoise Energy Infrastructure

In related news, Director Andrew J. Iseman purchased 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average cost of $46.83 per share, for a total transaction of $140,490.00. Following the completion of the purchase, the director owned 3,000 shares in the company, valued at approximately $140,490. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

Institutional Trading of Tortoise Energy Infrastructure

Institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its holdings in shares of Tortoise Energy Infrastructure by 10.2% during the 1st quarter. Advisors Asset Management Inc. now owns 425,793 shares of the financial services provider’s stock worth $18,330,000 after purchasing an additional 39,572 shares in the last quarter. Raymond James Financial Inc. grew its stake in Tortoise Energy Infrastructure by 8.3% during the third quarter. Raymond James Financial Inc. now owns 317,361 shares of the financial services provider’s stock worth $13,675,000 after buying an additional 24,319 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Tortoise Energy Infrastructure by 21.5% in the 3rd quarter. Penserra Capital Management LLC now owns 144,252 shares of the financial services provider’s stock valued at $6,215,000 after buying an additional 25,478 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Tortoise Energy Infrastructure by 29.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 139,778 shares of the financial services provider’s stock valued at $6,076,000 after buying an additional 31,790 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in Tortoise Energy Infrastructure by 7.4% in the third quarter. Arete Wealth Advisors LLC now owns 130,936 shares of the financial services provider’s stock valued at $5,642,000 after acquiring an additional 9,032 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.