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

Shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $43.30 and traded as high as $48.65. Tortoise Energy Infrastructure shares last traded at $48.5980, with a volume of 76,190 shares.

Tortoise Energy Infrastructure Price Performance

The stock has a 50 day simple moving average of $44.01 and a 200 day simple moving average of $43.30.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

A number of institutional investors have recently added to or reduced their stakes in TYG. Parkside Financial Bank & Trust increased its stake in shares of Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 300 shares in the last quarter. Comerica Bank boosted its position in shares of Tortoise Energy Infrastructure by 27.8% in the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 242 shares in the last quarter. Hartford Financial Management Inc. grew its stake in shares of 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 worth $51,000 after buying an additional 410 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Tortoise Energy Infrastructure by 600.0% during 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 buying an additional 1,800 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Tortoise Energy Infrastructure by 31.7% during 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 buying an additional 921 shares during the last quarter. Institutional investors 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.