Tortoise Energy Infrastructure (NYSE:TYG) Stock Crosses Above 200 Day Moving Average of $33.52

Tortoise Energy Infrastructure Co. (NYSE:TYG)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $33.52 and traded as high as $38.00. Tortoise Energy Infrastructure shares last traded at $38.00, with a volume of 18,258 shares.

Tortoise Energy Infrastructure Stock Up 0.3 %

The business has a 50 day moving average price of $35.90 and a two-hundred day moving average price of $33.52.

Tortoise Energy Infrastructure Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were given a $0.78 dividend. The ex-dividend date was Friday, August 23rd. This represents a $3.12 annualized dividend and a yield of 8.21%. This is a boost from Tortoise Energy Infrastructure’s previous quarterly dividend of $0.71.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Garner Asset Management Corp purchased a new position in Tortoise Energy Infrastructure in the fourth quarter valued at approximately $97,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Tortoise Energy Infrastructure by 27.9% in the second quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock valued at $102,000 after buying an additional 640 shares during the period. Carmichael Hill & Associates Inc. lifted its position in shares of Tortoise Energy Infrastructure by 9.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock valued at $277,000 after buying an additional 682 shares during the last quarter. Transcend Capital Advisors LLC purchased a new position in shares of Tortoise Energy Infrastructure during the 2nd quarter valued at $320,000. Finally, SeaCrest Wealth Management LLC grew its stake in shares of Tortoise Energy Infrastructure by 37.4% during the 1st quarter. SeaCrest Wealth Management LLC now owns 11,729 shares of the financial services provider’s stock worth $363,000 after acquiring an additional 3,192 shares during the period. 32.50% of the stock is owned by hedge funds and other institutional investors.

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.