Pointe Capital Management LLC reduced its stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 25.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,264 shares of the financial services provider’s stock after selling 3,749 shares during the period. Pointe Capital Management LLC’s holdings in Tortoise Energy Infrastructure Corporation were worth $342,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TYG. Hirtle Callaghan & Co LLC raised its position in Tortoise Energy Infrastructure Corporation by 2.0% in the first quarter. Hirtle Callaghan & Co LLC now owns 2,901 shares of the financial services provider’s stock valued at $101,000 after buying an additional 56 shares during the last quarter. BTR Capital Management Inc. acquired a new position in Tortoise Energy Infrastructure Corporation during the first quarter valued at approximately $203,000. Sowell Financial Services LLC raised its position in Tortoise Energy Infrastructure Corporation by 1,497.1% in the first quarter. Sowell Financial Services LLC now owns 6,101 shares of the financial services provider’s stock valued at $204,000 after buying an additional 5,719 shares during the last quarter. Evanson Asset Management LLC acquired a new position in Tortoise Energy Infrastructure Corporation during the first quarter valued at approximately $216,000. Finally, Chicago Partners Investment Group LLC raised its position in Tortoise Energy Infrastructure Corporation by 258.5% in the second quarter. Chicago Partners Investment Group LLC now owns 6,539 shares of the financial services provider’s stock valued at $200,000 after buying an additional 4,715 shares during the last quarter. Hedge funds and other institutional investors own 34.19% of the company’s stock.

Tortoise Energy Infrastructure Corporation (NYSE:TYG) opened at 28.61 on Friday. The company has a 50-day moving average price of $30.01 and a 200 day moving average price of $32.48. Tortoise Energy Infrastructure Corporation has a 1-year low of $27.40 and a 1-year high of $37.11.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 24th will be given a $0.655 dividend. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $2.62 annualized dividend and a dividend yield of 9.16%.

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Separately, Stifel Nicolaus upgraded Tortoise Energy Infrastructure Corporation from a “hold” rating to a “buy” rating and dropped their target price for the company from $35.00 to $34.00 in a research note on Wednesday, June 28th. They noted that the move was a valuation call.

About Tortoise Energy Infrastructure Corporation

Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.

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

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