Evolve Private Wealth LLC Purchases New Stake in Tortoise Energy Infrastructure Corporation $TYG

Evolve Private Wealth LLC purchased a new stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 37,508 shares of the financial services provider’s stock, valued at approximately $1,608,000. Evolve Private Wealth LLC owned approximately 0.15% of Tortoise Energy Infrastructure at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TYG. Fifth Third Bancorp bought a new position in Tortoise Energy Infrastructure during the 1st quarter valued at $36,000. Parkside Financial Bank & Trust grew its stake 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 in the last quarter. Comerica Bank grew its stake 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 in the last quarter. Rockefeller Capital Management L.P. raised 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. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Tortoise Energy Infrastructure by 31.7% in the third quarter. CIBC Private Wealth Group LLC now owns 3,826 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 921 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Performance

Tortoise Energy Infrastructure stock opened at $44.74 on Friday. Tortoise Energy Infrastructure Corporation has a fifty-two week low of $40.35 and a fifty-two week high of $51.18. The firm’s 50-day simple moving average is $43.26 and its 200 day simple moving average is $45.91.

Tortoise Energy Infrastructure Dividend Announcement

The firm 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 $0.475 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a c) annualized dividend and a dividend yield of 12.7%.

Insider Activity at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, Director Conrad S. Ciccotello purchased 4,107 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average cost of $42.24 per share, for a total transaction of $173,479.68. Following the completion of the acquisition, the director owned 16,225 shares of the company’s stock, valued at $685,344. The trade was a 33.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Tortoise Energy Infrastructure 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.