Next Capital Management LLC Takes Position in Tortoise Energy Infrastructure Corporation $TYG

Next Capital Management LLC bought a new position in Tortoise Energy Infrastructure Corporation (NYSE:TYG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,770 shares of the financial services provider’s stock, valued at approximately $429,000. Next Capital Management LLC owned about 0.09% of Tortoise Energy Infrastructure as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. D.A. Davidson & CO. raised its stake in Tortoise Energy Infrastructure by 4.7% during the first quarter. D.A. Davidson & CO. now owns 14,022 shares of the financial services provider’s stock worth $604,000 after purchasing an additional 629 shares during the period. Calamos Advisors LLC grew its stake in shares of Tortoise Energy Infrastructure by 25.9% during the 1st quarter. Calamos Advisors LLC now owns 9,847 shares of the financial services provider’s stock valued at $424,000 after buying an additional 2,023 shares during the period. Penserra Capital Management LLC acquired a new stake in shares of Tortoise Energy Infrastructure during the 1st quarter worth $4,962,000. Private Advisor Group LLC purchased a new position in shares of Tortoise Energy Infrastructure in the 1st quarter worth $339,000. Finally, LPL Financial LLC boosted its holdings in Tortoise Energy Infrastructure by 60.5% in the first quarter. LPL Financial LLC now owns 101,371 shares of the financial services provider’s stock valued at $4,364,000 after acquiring an additional 38,223 shares during the last quarter. 32.50% of the stock is currently owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Price Performance

TYG stock opened at $44.19 on Tuesday. The stock has a 50-day moving average price of $42.71 and a two-hundred day moving average price of $42.16. Tortoise Energy Infrastructure Corporation has a 12-month low of $33.73 and a 12-month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 24th were issued a dividend of $0.365 per share. The ex-dividend date was Friday, October 24th. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%.

Insider Transactions at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were purchased at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the insider owned 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.

Tortoise Energy Infrastructure Profile

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.