Tortoise Energy Infrastructure (NYSE:TYG) Director Buys 4,107 Shares of Stock

Tortoise Energy Infrastructure Corporation (NYSE:TYG) Director Conrad Ciccotello bought 4,107 shares of the stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $42.24 per share, with a total value of $173,479.68. Following the acquisition, the director owned 16,225 shares in the company, valued at approximately $685,344. This represents a 33.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Tortoise Energy Infrastructure Trading Down 0.6%

Shares of NYSE TYG traded down $0.27 during mid-day trading on Friday, reaching $42.87. The company had a trading volume of 201,397 shares, compared to its average volume of 159,704. The firm has a 50 day simple moving average of $45.55 and a two-hundred day simple moving average of $45.68. Tortoise Energy Infrastructure Corporation has a 52-week low of $40.35 and a 52-week high of $51.18.

Tortoise Energy Infrastructure Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.475 dividend. This represents a c) annualized dividend and a yield of 13.3%. The ex-dividend date is Monday, August 24th.

Institutional Trading of Tortoise Energy Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in TYG. Comerica Bank boosted its position 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 valued at $45,000 after purchasing an additional 242 shares during the period. Parkside Financial Bank & Trust increased its position in Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after buying an additional 300 shares during the period. Cahill Financial Advisors Inc. increased its position in Tortoise Energy Infrastructure by 1.6% during the fourth quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider’s stock worth $864,000 after buying an additional 323 shares during the period. Diversified Trust Co. lifted its stake in Tortoise Energy Infrastructure by 4.1% in the fourth quarter. Diversified Trust Co. now owns 9,106 shares of the financial services provider’s stock valued at $372,000 after buying an additional 355 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its stake in Tortoise Energy Infrastructure by 5.1% in the second quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider’s stock valued at $320,000 after buying an additional 355 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

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.