Tortoise Energy Infrastructure (NYSE:TYG) Hits New 1-Year High – What’s Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG) reached a new 52-week high during trading on Wednesday . The company traded as high as $49.86 and last traded at $49.7790, with a volume of 103764 shares trading hands. The stock had previously closed at $48.64.

Tortoise Energy Infrastructure Stock Performance

The stock has a 50-day moving average price of $44.01 and a 200-day moving average price of $43.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in shares of 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 during the period. Comerica Bank boosted its position in Tortoise Energy Infrastructure by 27.8% during the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 242 shares during the last quarter. Hartford Financial Management Inc. grew its holdings in Tortoise Energy Infrastructure by 49.2% during the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 410 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Tortoise Energy Infrastructure by 600.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,100 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,800 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in shares of Tortoise Energy Infrastructure by 31.7% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,826 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 921 shares in the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company 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.