Tortoise Energy Infrastructure Co. (NYSE:TYG) Announces Monthly Dividend of $0.37

Tortoise Energy Infrastructure Co. (NYSE:TYG) declared a monthly dividend on Tuesday, May 20th, Wall Street Journal reports. Stockholders of record on Friday, August 22nd will be paid a dividend of 0.365 per share by the financial services provider on Friday, August 29th. This represents a $4.38 dividend on an annualized basis and a dividend yield of 10.58%. The ex-dividend date of this dividend is Friday, August 22nd.

Tortoise Energy Infrastructure Stock Down 0.1%

TYG opened at $41.41 on Tuesday. The firm’s fifty day moving average price is $40.42 and its two-hundred day moving average price is $42.71. Tortoise Energy Infrastructure has a 1 year low of $32.50 and a 1 year high of $48.76.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

An institutional investor recently raised its position in Tortoise Energy Infrastructure stock. NewEdge Advisors LLC increased its stake in Tortoise Energy Infrastructure Co. (NYSE:TYG) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,723 shares of the financial services provider’s stock after purchasing an additional 500 shares during the period. NewEdge Advisors LLC owned approximately 0.05% of Tortoise Energy Infrastructure worth $246,000 as of its most recent SEC filing. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.