Tortoise Energy Infrastructure (NYSE:TYG) Reaches New 12-Month High – What’s Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $46.75 and last traded at $46.68, with a volume of 44157 shares trading hands. The stock had previously closed at $45.95.

Tortoise Energy Infrastructure Stock Performance

The business has a fifty day moving average of $42.81 and a two-hundred day moving average of $42.94.

Insiders Place Their Bets

In related news, Director Andrew J. Iseman purchased 3,000 shares of the stock in a transaction on Wednesday, November 12th. The shares were purchased at an average cost of $46.83 per share, with a total value of $140,490.00. Following the acquisition, the director directly owned 3,000 shares in the company, valued at $140,490. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Tortoise Energy Infrastructure

Several institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new position in Tortoise Energy Infrastructure during the 1st quarter worth $242,000. NewEdge Advisors LLC increased its position in Tortoise Energy Infrastructure by 9.6% during the first quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 500 shares during the period. Next Capital Management LLC acquired a new stake in Tortoise Energy Infrastructure in the 2nd quarter worth about $429,000. Penserra Capital Management LLC raised its stake in Tortoise Energy Infrastructure by 3.0% in the 2nd quarter. Penserra Capital Management LLC now owns 118,774 shares of the financial services provider’s stock worth $5,212,000 after purchasing an additional 3,509 shares in the last quarter. Finally, Samalin Investment Counsel LLC grew its position in shares of Tortoise Energy Infrastructure by 3.1% during the 2nd quarter. Samalin Investment Counsel LLC now owns 13,080 shares of the financial services provider’s stock worth $574,000 after purchasing an additional 396 shares in the last quarter. 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.