Tortoise Energy Infrastructure Corporation (NYSE:TYG – Get Free Report) hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $37.21 and last traded at $37.2730, with a volume of 35,899 shares trading hands. The stock had previously closed at $37.78.
Tortoise Energy Infrastructure Stock Down 3.7%
The stock’s fifty day simple moving average is $40.52 and its 200 day simple moving average is $44.48.
Tortoise Energy Infrastructure Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.4750 per share. This represents a $5.70 annualized dividend and a dividend yield of 15.7%. The ex-dividend date is Monday, November 23rd.
Institutional Investors Weigh In On Tortoise Energy Infrastructure
Large investors have recently made changes to their positions in the stock. Sigma Planning Corp increased its holdings in shares of Tortoise Energy Infrastructure by 7.2% in the first quarter. Sigma Planning Corp now owns 7,390 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 494 shares during the last quarter. NWF Advisory Services Inc. lifted its position in Tortoise Energy Infrastructure by 2.7% during the first quarter. NWF Advisory Services Inc. now owns 21,636 shares of the financial services provider’s stock worth $1,079,000 after buying an additional 560 shares in the last quarter. Samalin Investment Counsel LLC boosted its stake in Tortoise Energy Infrastructure by 4.2% during the third quarter. Samalin Investment Counsel LLC now owns 14,662 shares of the financial services provider’s stock worth $561,000 after buying an additional 592 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Tortoise Energy Infrastructure by 12.7% during the second quarter. NewEdge Advisors LLC now owns 5,581 shares of the financial services provider’s stock worth $239,000 after buying an additional 631 shares during the last quarter. Finally, WJ Financial Advisors LLC boosted its stake in Tortoise Energy Infrastructure by 2.4% during the first quarter. WJ Financial Advisors LLC now owns 28,581 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 668 shares during the last quarter. 32.50% of the stock is currently owned by hedge funds and other institutional investors.
About Tortoise Energy Infrastructure
Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end investment company focused on the energy infrastructure sector. Rather than operating pipelines, power plants or other infrastructure assets directly, the fund invests in publicly traded companies and master limited partnerships involved in energy transportation, storage, processing, generation and related infrastructure activities.
The fund seeks to provide investors with exposure to North American energy infrastructure, with investments generally spanning midstream energy companies and other businesses supporting the movement and delivery of energy.
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