Closed End Fund Advisors Inc. Invests $3 Million in Tortoise Energy Infrastructure Corporation $TYG

Closed End Fund Advisors Inc. purchased a new stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 73,348 shares of the financial services provider’s stock, valued at approximately $3,000,000. Tortoise Energy Infrastructure comprises 1.8% of Closed End Fund Advisors Inc.’s investment portfolio, making the stock its 16th largest position. Closed End Fund Advisors Inc. owned about 0.68% of Tortoise Energy Infrastructure at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TYG. Penserra Capital Management LLC increased its position in shares of Tortoise Energy Infrastructure by 21.5% during the third quarter. Penserra Capital Management LLC now owns 144,252 shares of the financial services provider’s stock valued at $6,215,000 after purchasing an additional 25,478 shares during the period. Consolidated Portfolio Review Corp bought a new stake in shares of Tortoise Energy Infrastructure during the third quarter valued at approximately $1,032,000. Bard Associates Inc. increased its position in shares of Tortoise Energy Infrastructure by 584.0% during the third quarter. Bard Associates Inc. now owns 114,419 shares of the financial services provider’s stock valued at $4,930,000 after purchasing an additional 97,692 shares during the period. WJ Financial Advisors LLC bought a new stake in shares of Tortoise Energy Infrastructure during the third quarter valued at approximately $1,034,000. Finally, Alpine Global Management LLC bought a new stake in shares of Tortoise Energy Infrastructure during the third quarter valued at approximately $950,000. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Performance

TYG opened at $43.25 on Friday. Tortoise Energy Infrastructure Corporation has a 1 year low of $40.35 and a 1 year high of $51.18. The stock’s 50 day simple moving average is $47.08 and its 200-day simple moving average is $45.74.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given a dividend of $0.475 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%.

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.