Tortoise Energy Infrastructure Corporation $TYG Shares Acquired by Royal Bank of Canada

Royal Bank of Canada increased its holdings in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYGFree Report) by 17.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 391,435 shares of the financial services provider’s stock after acquiring an additional 58,304 shares during the quarter. Royal Bank of Canada owned about 1.85% of Tortoise Energy Infrastructure worth $19,513,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TYG. Fifth Third Bancorp acquired a new stake in Tortoise Energy Infrastructure in the 1st quarter valued at about $36,000. Parkside Financial Bank & Trust boosted its holdings in shares of Tortoise Energy Infrastructure by 42.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 300 shares during the last quarter. Comerica Bank grew its position in shares of Tortoise Energy Infrastructure by 27.8% in the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 242 shares in the last quarter. Hartford Financial Management Inc. grew its position in shares of Tortoise Energy Infrastructure by 49.2% in the fourth quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 410 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of Tortoise Energy Infrastructure by 255.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 1,360 shares during the last quarter. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Trading Up 0.2%

Shares of Tortoise Energy Infrastructure stock opened at $41.98 on Friday. Tortoise Energy Infrastructure Corporation has a one year low of $40.35 and a one year high of $51.18. The business’s 50 day moving average price is $43.15 and its 200 day moving average price is $45.97.

Tortoise Energy Infrastructure Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%.

Insider Activity

In related news, Director Conrad S. Ciccotello purchased 4,107 shares of Tortoise Energy Infrastructure stock in a transaction dated Thursday, June 25th. The shares were acquired at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the acquisition, the director directly owned 16,225 shares in the company, valued at approximately $685,344. The trade was a 33.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by company insiders.

Tortoise Energy Infrastructure Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Tortoise Energy Infrastructure (NYSE:TYG)

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