Strategic Advocates LLC Decreases Position in Tortoise Energy Infrastructure Corporation $TYG

Strategic Advocates LLC trimmed its holdings in Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 43.7% in the third quarter, HoldingsChannel.com reports. The firm owned 13,095 shares of the financial services provider’s stock after selling 10,176 shares during the quarter. Strategic Advocates LLC’s holdings in Tortoise Energy Infrastructure were worth $564,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Tortoise Energy Infrastructure during the 1st quarter worth approximately $242,000. NewEdge Advisors LLC grew its position 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 valued at $246,000 after buying an additional 500 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Tortoise Energy Infrastructure by 150.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 30,478 shares of the financial services provider’s stock worth $1,338,000 after acquiring an additional 18,286 shares in the last quarter. Walleye Capital LLC purchased a new stake in Tortoise Energy Infrastructure in the second quarter valued at $203,000. Finally, Cary Street Partners Financial LLC boosted its stake in Tortoise Energy Infrastructure by 7.7% in the second quarter. Cary Street Partners Financial LLC now owns 6,970 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 500 shares in the last quarter. 32.50% of the stock is currently owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Trading Up 2.2%

TYG opened at $50.91 on Wednesday. Tortoise Energy Infrastructure Corporation has a one year low of $33.73 and a one year high of $51.01. The business’s 50-day simple moving average is $46.47 and its 200-day simple moving average is $43.98.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 22nd will be paid a $0.475 dividend. The ex-dividend date is Friday, May 22nd. This represents a c) dividend on an annualized basis and a yield of 11.2%.

Tortoise Energy Infrastructure Profile

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.