NewEdge Wealth LLC Takes $506,000 Position in Tortoise Energy Infrastructure Corporation $TYG

NewEdge Wealth LLC purchased a new position in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) during the second quarter, HoldingsChannel reports. The firm purchased 11,803 shares of the financial services provider’s stock, valued at approximately $506,000.

Several other institutional investors also recently modified their holdings of TYG. Bard Associates Inc. increased its holdings in Tortoise Energy Infrastructure by 71.1% in the fourth quarter. Bard Associates Inc. now owns 195,725 shares of the financial services provider’s stock valued at $8,005,000 after purchasing an additional 81,306 shares during the period. Closed End Fund Advisors Inc. acquired a new position in Tortoise Energy Infrastructure during the 4th quarter worth about $3,000,000. Eagle Bluffs Wealth Management LLC grew its position 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 buying an additional 63,588 shares during the last quarter. Royal Bank of Canada grew its position 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 buying an additional 61,432 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake 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 buying an additional 57,930 shares during the period. Institutional investors own 32.50% of the company’s stock.

Insiders Place Their Bets

In other news, Director Conrad S. Ciccotello purchased 4,107 shares of the stock in a transaction on Thursday, June 25th. The stock was purchased at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the acquisition, the director owned 16,225 shares in the company, valued at $685,344. This trade represents a 33.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG opened at $44.74 on Friday. Tortoise Energy Infrastructure Corporation has a 1 year low of $40.35 and a 1 year high of $51.18. The business has a 50-day moving average of $43.26 and a 200-day moving average of $45.91.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be given a dividend of $0.475 per share. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date of this dividend is Monday, November 23rd.

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.