Tortoise Energy Infrastructure (NYSE:TYG) Sees Large Volume Increase – What’s Next?

Shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) saw strong trading volume on Wednesday . 162,610 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 154,649 shares.The stock last traded at $42.2490 and had previously closed at $42.47.

Tortoise Energy Infrastructure Stock Down 0.3%

The business has a 50 day simple moving average of $46.28 and a two-hundred day simple moving average of $45.71.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a $0.475 dividend. This represents a c) dividend on an annualized basis and a yield of 13.5%. The ex-dividend date is Monday, August 24th.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in 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 worth $19,513,000 after acquiring an additional 58,304 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Tortoise Energy Infrastructure by 17.9% during the 4th quarter. Advisors Asset Management Inc. now owns 381,612 shares of the financial services provider’s stock valued at $15,608,000 after purchasing an additional 57,930 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Tortoise Energy Infrastructure by 8.3% during the 3rd quarter. Raymond James Financial Inc. now owns 317,361 shares of the financial services provider’s stock valued at $13,675,000 after purchasing an additional 24,319 shares during the last quarter. Bard Associates Inc. increased its position in shares of Tortoise Energy Infrastructure by 71.1% during the 4th quarter. Bard Associates Inc. now owns 195,725 shares of the financial services provider’s stock valued at $8,005,000 after purchasing an additional 81,306 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Tortoise Energy Infrastructure by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 167,078 shares of the financial services provider’s stock valued at $6,910,000 after purchasing an additional 27,300 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors.

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.