Tortoise Energy Infrastructure (NYSE:TYG) Shares Cross Above 200 Day Moving Average – What’s Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.83 and traded as high as $45.61. Tortoise Energy Infrastructure shares last traded at $45.41, with a volume of 282,693 shares trading hands.

Tortoise Energy Infrastructure Stock Performance

The firm’s 50 day moving average price is $42.67 and its two-hundred day moving average price is $42.83.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a $0.475 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) dividend on an annualized basis and a yield of 12.6%.

Insider Buying and Selling

In other Tortoise Energy Infrastructure news, Director Andrew J. Iseman acquired 3,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Wednesday, November 12th. The stock was bought at an average cost of $46.83 per share, for a total transaction of $140,490.00. Following the purchase, the director directly owned 3,000 shares in the company, valued at approximately $140,490. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.10% of the stock is owned by company insiders.

Institutional Trading of Tortoise Energy Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC lifted its stake in Tortoise Energy Infrastructure by 150.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 30,478 shares of the financial services provider’s stock valued at $1,338,000 after acquiring an additional 18,286 shares during the last quarter. Next Capital Management LLC acquired a new position in shares of Tortoise Energy Infrastructure during the 2nd quarter worth about $429,000. Janney Montgomery Scott LLC raised its holdings in shares of Tortoise Energy Infrastructure by 5.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 34,506 shares of the financial services provider’s stock valued at $1,515,000 after purchasing an additional 1,908 shares during the period. Penserra Capital Management LLC lifted its stake in Tortoise Energy Infrastructure by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 118,774 shares of the financial services provider’s stock valued at $5,212,000 after purchasing an additional 3,509 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Tortoise Energy Infrastructure by 2.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 107,988 shares of the financial services provider’s stock valued at $4,697,000 after purchasing an additional 2,554 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.