Tortoise Energy Infrastructure Corporation to Issue Monthly Dividend of $0.48 (NYSE:TYG)

Tortoise Energy Infrastructure Corporation (NYSE:TYG) announced a monthly dividend on Friday, February 27th. Investors of record on Tuesday, March 24th will be paid a dividend of 0.475 per share by the financial services provider on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 11.7%. The ex-dividend date of this dividend is Tuesday, March 24th.

Tortoise Energy Infrastructure Stock Performance

Shares of NYSE TYG opened at $48.93 on Friday. Tortoise Energy Infrastructure has a twelve month low of $33.73 and a twelve month high of $51.18. The company has a 50 day moving average of $46.97 and a 200 day moving average of $44.13.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several institutional investors have recently modified their holdings of the business. Comerica Bank boosted its holdings 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 worth $45,000 after buying an additional 242 shares during the last quarter. Samalin Investment Counsel LLC raised its position in Tortoise Energy Infrastructure by 2.0% in the third quarter. Samalin Investment Counsel LLC now owns 13,338 shares of the financial services provider’s stock worth $575,000 after acquiring an additional 258 shares during the period. Parkside Financial Bank & Trust raised its position in Tortoise Energy Infrastructure by 42.9% in the fourth 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 during the period. Cahill Financial Advisors Inc. grew its position in shares of Tortoise Energy Infrastructure by 1.6% during the 4th quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider’s stock valued at $864,000 after acquiring an additional 323 shares during the period. Finally, Benjamin Edwards Inc. increased its stake in shares of Tortoise Energy Infrastructure by 5.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 355 shares in the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

About Tortoise Energy Infrastructure

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.