61,023 Shares in Tortoise Energy Infrastructure Corporation $TYG Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 61,023 shares of Tortoise Energy Infrastructure in the second quarter, valued at approximately $2.6 million and representing about 0.24% of the company.
• Institutional investors and hedge funds owned 32.5% of TYG, with several firms increasing their positions during the first quarter.
• TYG recently traded at $38.27, near its 12-month low, while declaring a monthly dividend of $0.475 per share—an annualized payout of $5.70 and a 14.9% yield.

Bank of America Corp DE acquired a new position in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 61,023 shares of the financial services provider's stock, valued at approximately $2,616,000. Bank of America Corp DE owned about 0.24% of Tortoise Energy Infrastructure at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sigma Planning Corp increased its holdings in shares of Tortoise Energy Infrastructure by 7.2% in the 1st 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. boosted its position in shares of 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 worth $1,079,000 after buying an additional 560 shares during the period. WJ Financial Advisors LLC boosted its position in shares of Tortoise Energy Infrastructure by 2.4% during the first quarter. WJ Financial Advisors LLC now owns 28,581 shares of the financial services provider's stock worth $1,425,000 after buying an additional 668 shares during the period. Fiduciary Alliance LLC grew its holdings 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 buying an additional 673 shares in the last quarter. Finally, Fifth Third Bancorp bought a new position in Tortoise Energy Infrastructure in the 1st quarter worth approximately $36,000. 32.50% of the stock is owned by institutional investors and hedge funds.

Tortoise Energy Infrastructure Stock Performance

TYG opened at $38.27 on Thursday. Tortoise Energy Infrastructure Corporation has a 12 month low of $37.62 and a 12 month high of $51.18. The stock's 50 day moving average price is $42.79 and its 200 day moving average price is $44.81.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.4750 per share. This represents a $5.70 dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date of this dividend is Monday, November 23rd.

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.

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