Tortoise Energy Infrastructure (NYSE:TYG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Tortoise Energy Infrastructure Corporation (NYSE:TYG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.83 and traded as high as $45.61. Tortoise Energy Infrastructure shares last traded at $45.41, with a volume of 282,693 shares trading hands.

Tortoise Energy Infrastructure Stock Performance

The company has a fifty day simple moving average of $42.67 and a two-hundred day simple moving average of $42.83.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be given a $0.475 dividend. The ex-dividend date is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 12.6%.

Insider Transactions at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, Director Andrew J. Iseman bought 3,000 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired 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 $140,490. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several large investors have recently made changes to their positions in TYG. Hartford Financial Management Inc. lifted its position in Tortoise Energy Infrastructure by 49.2% in the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 410 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Tortoise Energy Infrastructure by 600.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,100 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,800 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Tortoise Energy Infrastructure by 31.7% in the 3rd 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 during the period. Walleye Capital LLC bought a new stake in shares of Tortoise Energy Infrastructure in the second quarter valued at about $203,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Tortoise Energy Infrastructure during the third quarter worth about $213,000. Institutional investors 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.