Tortoise Energy Infrastructure (NYSE:TYG) Sees Large Volume Increase – What’s Next?

Shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) saw unusually-high trading volume on Wednesday . Approximately 162,610 shares traded hands during trading, an increase of 5% from the previous session’s volume of 154,649 shares.The stock last traded at $42.2490 and had previously closed at $42.47.

Tortoise Energy Infrastructure Trading Down 0.3%

The firm has a 50-day moving average price of $46.28 and a 200 day moving average price of $45.71.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.475 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 13.5%.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position in shares of Tortoise Energy Infrastructure by 17.5% during the 1st quarter. Royal Bank of Canada now owns 391,435 shares of the financial services provider’s stock valued at $19,513,000 after purchasing an additional 58,304 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Tortoise Energy Infrastructure by 17.9% during the 4th quarter. Advisors Asset Management Inc. now owns 381,612 shares of the financial services provider’s stock valued at $15,608,000 after purchasing an additional 57,930 shares during the last quarter. Raymond James Financial Inc. increased its position in shares of Tortoise Energy Infrastructure by 8.3% during the 3rd quarter. Raymond James Financial Inc. now owns 317,361 shares of the financial services provider’s stock valued at $13,675,000 after purchasing an additional 24,319 shares during the last quarter. Bard Associates Inc. increased its position in shares of Tortoise Energy Infrastructure by 71.1% during the 4th 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Tortoise Energy Infrastructure by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 167,078 shares of the financial services provider’s stock worth $6,910,000 after acquiring an additional 27,300 shares during 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.