Tortoise Energy Infrastructure (NYSE:TYG) Hits New 1-Year High – Should You Buy?

Tortoise Energy Infrastructure Corporation (NYSE:TYG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.93 and last traded at $50.6960, with a volume of 101330 shares changing hands. The stock had previously closed at $49.82.

Tortoise Energy Infrastructure Price Performance

The firm’s 50-day simple moving average is $45.03 and its two-hundred day simple moving average is $43.58.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its holdings in Tortoise Energy Infrastructure by 17.9% in the fourth quarter. Advisors Asset Management Inc. now owns 381,612 shares of the financial services provider’s stock valued at $15,608,000 after acquiring an additional 57,930 shares during the last quarter. Royal Bank of Canada lifted its position in Tortoise Energy Infrastructure by 22.6% during the 4th quarter. Royal Bank of Canada now owns 333,131 shares of the financial services provider’s stock valued at $13,625,000 after purchasing an additional 61,432 shares during the period. Raymond James Financial Inc. boosted its stake in shares of Tortoise Energy Infrastructure by 8.3% in 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. boosted its stake in shares of Tortoise Energy Infrastructure by 71.1% in 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 grew 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 worth $6,910,000 after buying an additional 27,300 shares during the period. 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.