Janney Montgomery Scott LLC Has $4.31 Million Position in Tortoise Energy Infrastructure Corporation $TYG

Janney Montgomery Scott LLC increased its position in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 17.8% during the first quarter, Holdings Channel reports. The institutional investor owned 86,439 shares of the financial services provider’s stock after purchasing an additional 13,060 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tortoise Energy Infrastructure were worth $4,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank grew its holdings in shares of Tortoise Energy Infrastructure by 27.8% during the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 242 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Cahill Financial Advisors Inc. increased its holdings in Tortoise Energy Infrastructure by 1.6% in the 4th quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider’s stock valued at $864,000 after buying an additional 323 shares during the period. Diversified Trust Co. lifted its holdings in shares of Tortoise Energy Infrastructure by 4.1% during the 4th quarter. Diversified Trust Co. now owns 9,106 shares of the financial services provider’s stock worth $372,000 after acquiring an additional 355 shares during the period. Finally, Benjamin Edwards Inc. boosted its position in shares of Tortoise Energy Infrastructure by 5.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 355 shares in the last quarter. 32.50% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Price Performance

NYSE:TYG opened at $42.74 on Monday. The firm has a 50-day moving average price of $44.92 and a 200 day moving average price of $45.70. Tortoise Energy Infrastructure Corporation has a 12-month low of $40.35 and a 12-month high of $51.18.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a $0.475 dividend. This represents a c) dividend on an annualized basis and a yield of 13.3%. The ex-dividend date is Monday, August 24th.

Insider Activity at Tortoise Energy Infrastructure

In other news, Director Conrad S. Ciccotello bought 4,107 shares of Tortoise Energy Infrastructure stock in a transaction dated Thursday, June 25th. The shares were bought at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the purchase, the director owned 16,225 shares of the company’s stock, valued at approximately $685,344. This trade represents a 33.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

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.