Tortoise Energy Infrastructure (NYSE:TYG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Tortoise Energy Infrastructure Corporation (NYSE:TYG) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $42.77 and traded as high as $43.08. Tortoise Energy Infrastructure shares last traded at $42.6250, with a volume of 144,006 shares traded.

Tortoise Energy Infrastructure Stock Down 1.1%

The company’s fifty day moving average price is $43.19 and its two-hundred day moving average price is $42.77.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 13.4%.

Insider Activity

In other Tortoise Energy Infrastructure news, Director Andrew J. Iseman bought 3,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average cost of $46.83 per share, with a total value of $140,490.00. Following the acquisition, the director directly owned 3,000 shares of the company’s stock, valued at $140,490. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Several hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Tortoise Energy Infrastructure by 47.6% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,100 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 1,000 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Tortoise Energy Infrastructure by 31.7% in the third quarter. CIBC Private Wealth Group LLC now owns 3,826 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 921 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Tortoise Energy Infrastructure during the second quarter worth about $203,000. Integrated Wealth Concepts LLC bought a new stake in Tortoise Energy Infrastructure in the 3rd quarter valued at approximately $213,000. Finally, MBA Advisors LLC bought a new stake in Tortoise Energy Infrastructure in the 3rd quarter valued at approximately $220,000. Institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company 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.