United Capital Financial Advisors LLC Invests $917,000 in Tortoise Energy Infrastructure Corporation $TYG

United Capital Financial Advisors LLC bought a new stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 21,400 shares of the financial services provider’s stock, valued at approximately $917,000.

A number of other hedge funds have also recently modified their holdings of the stock. Royal Bank of Canada lifted its position in Tortoise Energy Infrastructure by 17.5% in the first quarter. Royal Bank of Canada now owns 391,435 shares of the financial services provider’s stock valued at $19,513,000 after acquiring an additional 58,304 shares during the last quarter. Commerce Bank acquired a new stake in shares of Tortoise Energy Infrastructure during the second quarter worth about $2,951,000. North Ground Capital acquired a new stake in shares of Tortoise Energy Infrastructure during the second quarter worth about $1,920,576. LaSalle St. Investment Advisors LLC purchased a new stake in shares of Tortoise Energy Infrastructure in the 2nd quarter valued at about $1,052,000. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at about $3,000,000. 32.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Conrad S. Ciccotello acquired 4,107 shares of the firm’s stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $42.24 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Tortoise Energy Infrastructure Price Performance

Shares of NYSE TYG opened at $43.45 on Monday. Tortoise Energy Infrastructure Corporation has a 52-week low of $40.35 and a 52-week high of $51.18. The business has a 50-day moving average price of $43.35 and a 200 day moving average price of $45.87.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be paid a $0.475 dividend. The ex-dividend date is Monday, November 23rd. This represents a c) dividend on an annualized basis and a yield of 13.1%.

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.