Tortoise Energy Infrastructure Corporation (NYSE:TYG) to Issue Monthly Dividend of $0.48

Tortoise Energy Infrastructure Corporation (NYSE:TYG) announced a monthly dividend on Friday, February 27th. Stockholders of record on Thursday, April 23rd will be given a dividend of 0.475 per share by the financial services provider on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Thursday, April 23rd.

Tortoise Energy Infrastructure Stock Up 1.7%

NYSE TYG opened at $48.03 on Tuesday. The company has a 50-day moving average price of $48.63 and a 200-day moving average price of $44.98. Tortoise Energy Infrastructure has a 52 week low of $37.77 and a 52 week high of $51.18.

Institutional Trading of Tortoise Energy Infrastructure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in Tortoise Energy Infrastructure in the first quarter worth approximately $242,000. NewEdge Advisors LLC increased its stake in shares of Tortoise Energy Infrastructure by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 500 shares in the last quarter. Walleye Capital LLC bought a new position in Tortoise Energy Infrastructure in the 2nd quarter worth $203,000. Raymond James Financial Inc. raised its holdings in Tortoise Energy Infrastructure by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 293,042 shares of the financial services provider’s stock worth $12,862,000 after purchasing an additional 36,313 shares during the period. Finally, MGB Wealth Management LLC lifted its position in Tortoise Energy Infrastructure by 2.6% during the second quarter. MGB Wealth Management LLC now owns 23,896 shares of the financial services provider’s stock valued at $1,049,000 after purchasing an additional 601 shares in the last quarter. 32.50% of the stock is owned by hedge funds and other 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.