Tortoise Energy Infrastructure (TYG) Hits New 1-Year Low at $21.51

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Tortoise Energy Infrastructure Corp. (NYSE:TYG) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.51 and last traded at $21.65, with a volume of 11860 shares. The stock had previously closed at $22.49.

The firm also recently announced a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 23rd were issued a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 11.92%. The ex-dividend date was Wednesday, November 21st.

Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley grew its holdings in shares of Tortoise Energy Infrastructure by 2.5% in the third quarter. Morgan Stanley now owns 2,209,997 shares of the financial services provider’s stock valued at $59,516,000 after purchasing an additional 54,160 shares during the period. Commerce Bank grew its holdings in shares of Tortoise Energy Infrastructure by 6.3% in the third quarter. Commerce Bank now owns 536,655 shares of the financial services provider’s stock valued at $14,452,000 after purchasing an additional 31,900 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Tortoise Energy Infrastructure by 6.0% in the third quarter. Wells Fargo & Company MN now owns 416,887 shares of the financial services provider’s stock valued at $11,226,000 after purchasing an additional 23,732 shares during the period. Parkside Investments LLC grew its holdings in shares of Tortoise Energy Infrastructure by 6.9% in the third quarter. Parkside Investments LLC now owns 261,526 shares of the financial services provider’s stock valued at $7,042,000 after purchasing an additional 16,850 shares during the period. Finally, Roble Belko & Company Inc grew its holdings in shares of Tortoise Energy Infrastructure by 3.5% in the second quarter. Roble Belko & Company Inc now owns 245,237 shares of the financial services provider’s stock valued at $6,545,000 after purchasing an additional 8,339 shares during the period. 30.04% of the stock is owned by institutional investors and hedge funds.

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Tortoise Energy Infrastructure Company Profile (NYSE:TYG)

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.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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