Advisors Asset Management Inc. Trims Stake in Tortoise Energy Infrastructure Corporation $TYG

Advisors Asset Management Inc. cut its stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 23.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 323,682 shares of the financial services provider’s stock after selling 98,681 shares during the period. Advisors Asset Management Inc. owned 3.01% of Tortoise Energy Infrastructure worth $13,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Samalin Investment Counsel LLC increased its holdings in shares of Tortoise Energy Infrastructure by 2.0% in the 3rd quarter. Samalin Investment Counsel LLC now owns 13,338 shares of the financial services provider’s stock worth $575,000 after purchasing an additional 258 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Tortoise Energy Infrastructure by 5.1% during the second quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 355 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Tortoise Energy Infrastructure by 9.6% during the first quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock valued at $246,000 after buying an additional 500 shares during the last quarter. Cary Street Partners Financial LLC increased its holdings in Tortoise Energy Infrastructure by 7.7% in the 2nd quarter. Cary Street Partners Financial LLC now owns 6,970 shares of the financial services provider’s stock worth $306,000 after buying an additional 500 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Tortoise Energy Infrastructure by 4.2% in the 3rd quarter. D.A. Davidson & CO. now owns 14,553 shares of the financial services provider’s stock worth $627,000 after buying an additional 585 shares in the last quarter. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Performance

TYG opened at $46.47 on Wednesday. The company’s 50-day simple moving average is $42.87 and its two-hundred day simple moving average is $42.97. Tortoise Energy Infrastructure Corporation has a 52-week low of $33.73 and a 52-week high of $46.75.

Tortoise Energy Infrastructure 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.