Tortoise Energy Infrastructure (NYSE:TYG) Shares Cross Above 200 Day Moving Average – What’s Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.83 and traded as high as $45.61. Tortoise Energy Infrastructure shares last traded at $45.41, with a volume of 282,693 shares.

Tortoise Energy Infrastructure Stock Performance

The firm has a 50-day moving average of $42.67 and a two-hundred day moving average of $42.84.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be given a $0.475 dividend. This represents a c) annualized dividend and a dividend yield of 12.9%. The ex-dividend date of this dividend is Friday, February 20th.

Insider Activity

In related news, Director Andrew J. Iseman bought 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average price of $46.83 per share, with a total value of $140,490.00. Following the completion of the transaction, the director owned 3,000 shares of the company’s stock, valued at $140,490. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Institutional Trading of Tortoise Energy Infrastructure

Hedge funds have recently bought and sold shares of the stock. Hartford Financial Management Inc. raised its position in shares of Tortoise Energy Infrastructure by 49.2% during the fourth quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock valued at $51,000 after buying an additional 410 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Tortoise Energy Infrastructure by 600.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,100 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,800 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of Tortoise Energy Infrastructure by 31.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,826 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 921 shares during the period. Walleye Capital LLC acquired a new stake in shares of Tortoise Energy Infrastructure during the 2nd quarter worth approximately $203,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Tortoise Energy Infrastructure during the third quarter valued at approximately $213,000. 32.50% of the stock is 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.