Tortoise Energy Infrastructure (NYSE:TYG) Sets New 52-Week High – Here’s Why

Tortoise Energy Infrastructure Corporation (NYSE:TYG)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $51.01 and last traded at $50.7740, with a volume of 83648 shares traded. The stock had previously closed at $49.79.

Tortoise Energy Infrastructure Price Performance

The company’s fifty day moving average price is $46.65 and its 200 day moving average price is $44.02.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 22nd will be issued a dividend of $0.475 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date of this dividend is Friday, May 22nd.

Institutional Trading of Tortoise Energy Infrastructure

Several large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. boosted its position in 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 worth $77,000 after acquiring an additional 1,360 shares during the period. Corient Private Wealth LLC raised its stake in shares of Tortoise Energy Infrastructure by 17.8% during the fourth quarter. Corient Private Wealth LLC now owns 12,677 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 1,918 shares in the last quarter. NWF Advisory Services Inc. raised its stake in shares of Tortoise Energy Infrastructure by 65.3% during the fourth quarter. NWF Advisory Services Inc. now owns 21,076 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 8,326 shares in the last quarter. Corecam Pte. Ltd. acquired a new stake in Tortoise Energy Infrastructure in the fourth quarter worth about $234,000. Finally, Sit Investment Associates Inc. lifted its holdings in Tortoise Energy Infrastructure by 7.3% in the fourth quarter. Sit Investment Associates Inc. now owns 135,345 shares of the financial services provider’s stock worth $5,536,000 after purchasing an additional 9,210 shares during the period. 32.50% of the stock is currently owned by institutional investors and hedge funds.

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.