Tortoise Energy Infrastructure (NYSE:TYG) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Tortoise Energy Infrastructure Corporation (NYSE:TYG)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.87 and traded as high as $44.88. Tortoise Energy Infrastructure shares last traded at $44.27, with a volume of 148,160 shares traded.

Tortoise Energy Infrastructure Price Performance

The business’s 50 day moving average is $42.67 and its 200 day moving average is $42.87.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared 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 is Friday, February 20th. This represents a c) dividend on an annualized basis and a dividend yield of 12.9%.

Insiders Place Their Bets

In other Tortoise Energy Infrastructure news, Director Andrew J. Iseman acquired 3,000 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $46.83 per share, with a total value of $140,490.00. Following the purchase, the director owned 3,000 shares in the company, valued at approximately $140,490. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

A number of large investors have recently made changes to their positions in TYG. Steward Partners Investment Advisory LLC boosted its position in Tortoise Energy Infrastructure by 150.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 30,478 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 18,286 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Tortoise Energy Infrastructure by 29.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 139,778 shares of the financial services provider’s stock worth $6,076,000 after purchasing an additional 31,790 shares during the last quarter. Next Capital Management LLC purchased a new stake in shares of Tortoise Energy Infrastructure during the 2nd quarter worth about $429,000. Janney Montgomery Scott LLC lifted its holdings in shares of Tortoise Energy Infrastructure by 5.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 34,506 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 1,908 shares during the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of Tortoise Energy Infrastructure by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 118,774 shares of the financial services provider’s stock valued at $5,212,000 after buying an additional 3,509 shares in the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

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.