Tortoise Energy Infrastructure (NYSE:TYG) Sets New 12-Month High – Here’s Why

Shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $47.81 and last traded at $47.3850, with a volume of 5327 shares changing hands. The stock had previously closed at $47.35.

Tortoise Energy Infrastructure Stock Up 1.7%

The stock’s fifty day simple moving average is $43.20 and its 200-day simple moving average is $43.08.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the business. Penserra Capital Management LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 21.5% during the 3rd quarter. Penserra Capital Management LLC now owns 144,252 shares of the financial services provider’s stock worth $6,215,000 after buying an additional 25,478 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Tortoise Energy Infrastructure by 150.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 30,478 shares of the financial services provider’s stock valued at $1,338,000 after buying an additional 18,286 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Tortoise Energy Infrastructure by 29.4% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 139,778 shares of the financial services provider’s stock worth $6,076,000 after buying an additional 31,790 shares in the last quarter. Next Capital Management LLC bought a new position in Tortoise Energy Infrastructure during the second quarter valued at about $429,000. Finally, WJ Financial Advisors LLC acquired a new position in Tortoise Energy Infrastructure in the 3rd quarter valued at approximately $1,034,000. 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.