Tortoise Energy Infrastructure Corp. (TYG) Holdings Reduced by Commerce Bank
Commerce Bank lowered its position in Tortoise Energy Infrastructure Corp. (NYSE:TYG) by 1.2% in the first quarter, Holdings Channel reports. The fund owned 487,652 shares of the financial services provider’s stock after selling 5,830 shares during the quarter. Commerce Bank’s holdings in Tortoise Energy Infrastructure were worth $11,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently made changes to their positions in TYG. Shorepoint Capital Partners LLC acquired a new stake in Tortoise Energy Infrastructure in the first quarter valued at $9,427,000. Parkside Investments LLC lifted its stake in shares of Tortoise Energy Infrastructure by 105.5% during the 4th quarter. Parkside Investments LLC now owns 537,387 shares of the financial services provider’s stock worth $10,694,000 after buying an additional 275,861 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Tortoise Energy Infrastructure during the 1st quarter worth about $4,044,000. First Republic Investment Management Inc. lifted its stake in shares of Tortoise Energy Infrastructure by 67.7% during the 1st quarter. First Republic Investment Management Inc. now owns 273,638 shares of the financial services provider’s stock worth $6,430,000 after buying an additional 110,506 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Tortoise Energy Infrastructure by 77.5% during the 1st quarter. Raymond James & Associates now owns 241,817 shares of the financial services provider’s stock worth $5,683,000 after buying an additional 105,577 shares during the last quarter. Hedge funds and other institutional investors own 29.95% of the company’s stock.
NYSE TYG opened at $23.96 on Thursday. Tortoise Energy Infrastructure Corp. has a 52-week low of $18.36 and a 52-week high of $30.20.
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About Tortoise Energy Infrastructure
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: Intrinsic Value
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