Tortoise Energy Infrastructure Corporation (NYSE:TYG) Plans Monthly Dividend of $0.48

Tortoise Energy Infrastructure Corporation (NYSE:TYG) declared a monthly dividend on Tuesday, May 12th. Stockholders of record on Wednesday, June 3rd will be given a dividend of 0.475 per share by the financial services provider on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 12.4%. The ex-dividend date is Wednesday, June 3rd.

Tortoise Energy Infrastructure Price Performance

Shares of Tortoise Energy Infrastructure stock traded up $0.05 on Wednesday, hitting $46.13. The stock had a trading volume of 53,786 shares, compared to its average volume of 134,913. Tortoise Energy Infrastructure has a twelve month low of $39.93 and a twelve month high of $51.18. The business’s 50 day moving average is $48.59 and its two-hundred day moving average is $45.50.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Several institutional investors and hedge funds have recently made changes to their positions in TYG. Integrated Wealth Concepts LLC acquired a new position in shares of Tortoise Energy Infrastructure in the first quarter valued at approximately $242,000. NewEdge Advisors LLC grew its position in shares of Tortoise Energy Infrastructure by 9.6% in the first quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock valued at $246,000 after purchasing an additional 500 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Tortoise Energy Infrastructure in the second quarter valued at approximately $203,000. Raymond James Financial Inc. boosted its stake in shares of Tortoise Energy Infrastructure by 14.1% in the second quarter. Raymond James Financial Inc. now owns 293,042 shares of the financial services provider’s stock valued at $12,862,000 after buying an additional 36,313 shares during the period. Finally, MGB Wealth Management LLC boosted its stake in shares of Tortoise Energy Infrastructure by 2.6% in the second quarter. MGB Wealth Management LLC now owns 23,896 shares of the financial services provider’s stock valued at $1,049,000 after buying an additional 601 shares during the period. Institutional investors and hedge funds own 32.50% 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.