NewEdge Wealth LLC Acquires New Shares in Tortoise Energy Infrastructure Corporation $TYG

NewEdge Wealth LLC bought a new stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,803 shares of the financial services provider’s stock, valued at approximately $506,000.

Other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Tortoise Energy Infrastructure by 17.5% in the 1st quarter. Royal Bank of Canada now owns 391,435 shares of the financial services provider’s stock valued at $19,513,000 after purchasing an additional 58,304 shares in the last quarter. Closed End Fund Advisors Inc. bought a new position in Tortoise Energy Infrastructure in the 4th quarter valued at approximately $3,000,000. WCG Wealth Advisors LLC acquired a new stake in Tortoise Energy Infrastructure in the fourth quarter valued at approximately $557,000. Eagle Bluffs Wealth Management LLC grew its stake in shares of Tortoise Energy Infrastructure by 74.0% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 149,482 shares of the financial services provider’s stock worth $6,114,000 after buying an additional 63,588 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Tortoise Energy Infrastructure by 71.8% during the fourth quarter. UBS Group AG now owns 69,068 shares of the financial services provider’s stock worth $2,825,000 after buying an additional 28,877 shares in the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Trading Down 0.1%

Shares of TYG opened at $44.74 on Friday. Tortoise Energy Infrastructure Corporation has a 52 week low of $40.35 and a 52 week high of $51.18. The stock has a fifty day moving average of $43.26 and a 200-day moving average of $45.91.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be issued a $0.475 dividend. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend is Monday, November 23rd.

Insider Buying and Selling

In other news, Director Conrad S. Ciccotello purchased 4,107 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $42.24 per share, with a total value of $173,479.68. Following the completion of the purchase, the director owned 16,225 shares of the company’s stock, valued at $685,344. This trade represents a 33.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.09% 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.