Almitas Capital LLC Makes New $6.94 Million Investment in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• Almitas Capital LLC acquired 161,872 shares of Tortoise Energy Infrastructure, worth approximately $6.94 million, representing about 0.64% of TYG and 1.7% of the fund’s holdings.
• Institutional investors and hedge funds own 32.5% of TYG, while Director Conrad S. Ciccotello increased his position by 33.89% through an insider purchase of 4,107 shares.
• Tortoise Energy Infrastructure declared a $0.475 monthly dividend, implying a 13.2% yield; shares recently traded at $43.34, between the stock’s 12-month range of $40.35 to $51.18.

Almitas Capital LLC purchased a new stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 161,872 shares of the financial services provider's stock, valued at approximately $6,939,000. Tortoise Energy Infrastructure makes up about 1.7% of Almitas Capital LLC's holdings, making the stock its 13th biggest position. Almitas Capital LLC owned about 0.64% of Tortoise Energy Infrastructure at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp bought a new position in shares of Tortoise Energy Infrastructure during the first quarter worth about $36,000. Parkside Financial Bank & Trust grew its stake in shares of Tortoise Energy Infrastructure by 42.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider's stock worth $41,000 after acquiring an additional 300 shares in the last quarter. Comerica Bank grew its stake in shares of Tortoise Energy Infrastructure by 27.8% during the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider's stock worth $45,000 after acquiring an additional 242 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Tortoise Energy Infrastructure in the second quarter valued at approximately $54,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Tortoise Energy Infrastructure by 255.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider's stock valued at $77,000 after purchasing an additional 1,360 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company's stock.

Insider Buying and Selling at Tortoise Energy Infrastructure

In related news, Director Conrad S. Ciccotello bought 4,107 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were acquired at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the completion of the acquisition, the director owned 16,225 shares of the company's stock, valued at approximately $685,344. The trade was a 33.89% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG opened at $43.34 on Friday. Tortoise Energy Infrastructure Corporation has a 12 month low of $40.35 and a 12 month high of $51.18. The firm has a fifty day simple moving average of $43.33 and a 200 day simple moving average of $45.89.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be paid a dividend of $0.475 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date is Monday, November 23rd.

Tortoise Energy Infrastructure Company Profile

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.

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