Tortoise Energy Infrastructure (NYSE:TYG) Reaches New 12-Month Low – Here’s What Happened

Tortoise Energy Infrastructure Corporation (NYSE:TYG) reached a new 52-week low on Wednesday. The stock traded as low as $40.22 and last traded at $40.4250, with a volume of 196308 shares traded. The stock had previously closed at $42.48.

Tortoise Energy Infrastructure Stock Performance

The company has a 50 day moving average price of $43.23 and a 200-day moving average price of $45.09.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be issued a $0.4750 dividend. The ex-dividend date is Monday, November 23rd. This represents a $5.70 annualized dividend and a yield of 14.2%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TYG. Sigma Planning Corp grew its stake in shares of Tortoise Energy Infrastructure by 7.2% in the first quarter. Sigma Planning Corp now owns 7,390 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 494 shares during the period. NWF Advisory Services Inc. lifted its position in Tortoise Energy Infrastructure by 2.7% during the first quarter. NWF Advisory Services Inc. now owns 21,636 shares of the financial services provider’s stock valued at $1,079,000 after purchasing an additional 560 shares during the period. NewEdge Advisors LLC boosted its holdings in Tortoise Energy Infrastructure by 12.7% in the second quarter. NewEdge Advisors LLC now owns 5,581 shares of the financial services provider’s stock worth $239,000 after purchasing an additional 631 shares during the last quarter. WJ Financial Advisors LLC boosted its holdings in Tortoise Energy Infrastructure by 2.4% in the first quarter. WJ Financial Advisors LLC now owns 28,581 shares of the financial services provider’s stock worth $1,425,000 after purchasing an additional 668 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its position in Tortoise Energy Infrastructure by 9.3% in the 1st quarter. Fiduciary Alliance LLC now owns 7,913 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 673 shares during the period. 32.50% of the stock is owned by hedge funds and other institutional investors.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a publicly traded closed-end investment company focused on the energy infrastructure sector. Rather than operating energy assets directly, the fund invests in companies and securities associated with the transportation, storage, processing and distribution of energy resources.

Its portfolio may include master limited partnerships, corporations and other entities involved in midstream energy infrastructure, including oil, natural gas and natural gas liquids pipelines, terminals, gathering and processing facilities, and related assets.