Tortoise Energy Infrastructure (NYSE:TYG) Director Conrad Ciccotello Acquires 4,107 Shares of Stock

Tortoise Energy Infrastructure Corporation (NYSE:TYG) Director Conrad Ciccotello purchased 4,107 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average price of $42.24 per share, with a total value of $173,479.68. Following the transaction, the director owned 16,225 shares in the company, valued at $685,344. The trade was a 33.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tortoise Energy Infrastructure Stock Down 0.6%

NYSE:TYG traded down $0.27 during trading hours on Friday, reaching $42.87. 201,397 shares of the company’s stock were exchanged, compared to its average volume of 159,704. The company has a 50-day moving average of $45.55 and a 200 day moving average of $45.68. Tortoise Energy Infrastructure Corporation has a 1-year low of $40.35 and a 1-year high of $51.18.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a $0.475 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date of this dividend is Monday, August 24th.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bard Associates Inc. increased its position in Tortoise Energy Infrastructure by 584.0% in the 3rd quarter. Bard Associates Inc. now owns 114,419 shares of the financial services provider’s stock valued at $4,930,000 after acquiring an additional 97,692 shares during the period. Closed End Fund Advisors Inc. acquired a new stake in Tortoise Energy Infrastructure during the 4th quarter worth approximately $3,000,000. Eagle Bluffs Wealth Management LLC grew its stake in shares of Tortoise Energy Infrastructure by 74.0% in the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 149,482 shares of the financial services provider’s stock valued at $6,114,000 after purchasing an additional 63,588 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Tortoise Energy Infrastructure by 22.6% in 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 last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of 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 purchasing an additional 57,930 shares during the period. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

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.