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

Tortoise Energy Infrastructure Corporation (NYSE:TYG) declared a monthly dividend on Friday, February 27th. Stockholders of record on Thursday, April 23rd will be given a dividend of 0.475 per share by the financial services provider on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Thursday, April 23rd.

Tortoise Energy Infrastructure Stock Performance

Shares of Tortoise Energy Infrastructure stock opened at $48.03 on Tuesday. Tortoise Energy Infrastructure has a 52-week low of $37.77 and a 52-week high of $51.18. The stock’s 50-day simple moving average is $48.63 and its 200 day simple moving average is $44.98.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new stake in Tortoise Energy Infrastructure during the 1st quarter valued at $242,000. NewEdge Advisors LLC raised its stake in shares of Tortoise Energy Infrastructure by 9.6% during the 1st 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 period. Walleye Capital LLC purchased a new stake in Tortoise Energy Infrastructure during the 2nd quarter worth about $203,000. Raymond James Financial Inc. boosted its stake in Tortoise Energy Infrastructure by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 293,042 shares of the financial services provider’s stock worth $12,862,000 after purchasing an additional 36,313 shares during the period. Finally, MGB Wealth Management LLC grew its holdings in Tortoise Energy Infrastructure by 2.6% during the 2nd 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 in the last quarter. 32.50% of the stock is owned by institutional investors.

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.