Tortoise Energy Infrastructure (NYSE:TYG) Director Acquires $173,479.68 in Stock

Tortoise Energy Infrastructure Corporation (NYSE:TYG) Director Conrad Ciccotello bought 4,107 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the completion of the transaction, the director directly owned 16,225 shares of the company’s stock, valued at $685,344. This represents a 33.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tortoise Energy Infrastructure Trading Up 0.4%

TYG opened at $42.87 on Monday. The company has a 50 day simple moving average of $45.46 and a two-hundred day simple moving average of $45.68. Tortoise Energy Infrastructure Corporation has a 1-year low of $40.35 and a 1-year high of $51.18.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a dividend of $0.475 per share. This represents a c) dividend on an annualized basis and a yield of 13.3%. The ex-dividend date of this dividend is Monday, August 24th.

Institutional Trading of Tortoise Energy Infrastructure

Hedge funds have recently modified their holdings of the company. Arete Wealth Advisors LLC raised its position in shares of Tortoise Energy Infrastructure by 2.5% during the 1st quarter. Arete Wealth Advisors LLC now owns 137,010 shares of the financial services provider’s stock valued at $6,822,000 after buying an additional 3,280 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Tortoise Energy Infrastructure by 17.5% in the 1st quarter. Royal Bank of Canada now owns 391,435 shares of the financial services provider’s stock valued at $19,513,000 after purchasing an additional 58,304 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Tortoise Energy Infrastructure by 41.6% in the 1st quarter. Lido Advisors LLC now owns 27,406 shares of the financial services provider’s stock valued at $1,366,000 after purchasing an additional 8,051 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Tortoise Energy Infrastructure by 6.8% in the 1st quarter. Cetera Investment Advisers now owns 18,902 shares of the financial services provider’s stock worth $942,000 after purchasing an additional 1,206 shares during the period. Finally, D.A. Davidson & CO. increased its position in shares of Tortoise Energy Infrastructure by 3.3% during the 1st quarter. D.A. Davidson & CO. now owns 30,254 shares of the financial services provider’s stock valued at $1,508,000 after purchasing an additional 964 shares during the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

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.