Tortoise Energy Infrastructure Corporation (NYSE:TYG – Get Free Report) declared a monthly dividend on Tuesday, May 12th. Stockholders of record on Friday, July 24th will be paid a dividend of 0.475 per share by the financial services provider on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 12.4%. The ex-dividend date is Friday, July 24th.
Tortoise Energy Infrastructure Price Performance
Shares of NYSE TYG traded up $0.07 during trading on Wednesday, hitting $46.15. 56,971 shares of the company traded hands, compared to its average volume of 134,949. The business’s fifty day moving average is $48.59 and its 200 day moving average is $45.50. Tortoise Energy Infrastructure has a fifty-two week low of $39.93 and a fifty-two week high of $51.18.
Institutional Investors Weigh In On Tortoise Energy Infrastructure
Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp acquired a new stake in shares of Tortoise Energy Infrastructure in the 1st quarter worth about $36,000. Parkside Financial Bank & Trust raised its holdings in shares of Tortoise Energy Infrastructure by 42.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Comerica Bank raised its holdings in shares of Tortoise Energy Infrastructure by 27.8% in the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 242 shares during the last quarter. Hartford Financial Management Inc. raised its holdings in shares of Tortoise Energy Infrastructure by 49.2% in the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 410 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Tortoise Energy Infrastructure by 255.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 1,360 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.
About Tortoise Energy Infrastructure
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.
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