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

Tortoise Energy Infrastructure Corporation (NYSE:TYG) Director Conrad Ciccotello bought 4,107 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was purchased at an average cost of $42.24 per share, for a total transaction of $173,479.68. Following the completion of the acquisition, the director owned 16,225 shares in the company, valued at approximately $685,344. This trade represents 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 Trading Down 0.6%

NYSE TYG opened at $42.87 on Friday. The firm’s 50 day simple moving average is $45.46 and its 200 day simple moving average is $45.66. Tortoise Energy Infrastructure Corporation has a 1 year low of $40.35 and a 1 year high of $51.18.

Tortoise Energy Infrastructure Dividend Announcement

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

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Institutional investors have recently modified their holdings of the business. Fifth Third Bancorp bought a new position in Tortoise Energy Infrastructure in the first quarter valued at about $36,000. Parkside Financial Bank & Trust lifted its holdings in shares of Tortoise Energy Infrastructure by 42.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Comerica Bank boosted its stake in shares of Tortoise Energy Infrastructure by 27.8% in the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 242 shares in the last quarter. Hartford Financial Management Inc. boosted its stake in shares of Tortoise Energy Infrastructure by 49.2% in the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 410 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Tortoise Energy Infrastructure by 255.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 1,360 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

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.