Bank of America Corp DE Has $3.14 Million Stake in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• Bank of America reduced its TYG stake by 32.3% in the first quarter, selling 30,003 shares and retaining 62,963 shares valued at approximately $3.14 million.
• Director Conrad S. Ciccotello purchased 4,107 shares for about $173,480, increasing his ownership by 33.9%; institutional investors and hedge funds collectively own 32.5% of TYG.
• TYG shares opened at $43.45, near their 50-day average, while the company announced a monthly dividend of $0.475 per share—an annualized yield of approximately 13.1%.

Bank of America Corp DE lowered its stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) by 32.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 62,963 shares of the financial services provider's stock after selling 30,003 shares during the quarter. Bank of America Corp DE owned approximately 0.30% of Tortoise Energy Infrastructure worth $3,139,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Comerica Bank boosted its stake in shares of Tortoise Energy Infrastructure by 27.8% during the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 242 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Tortoise Energy Infrastructure by 42.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider's stock valued at $41,000 after buying an additional 300 shares during the last quarter. Cahill Financial Advisors Inc. boosted its position in Tortoise Energy Infrastructure by 1.6% during the 4th quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider's stock worth $864,000 after buying an additional 323 shares during the period. Benjamin Edwards Inc. boosted its position in Tortoise Energy Infrastructure by 5.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider's stock worth $320,000 after buying an additional 355 shares during the period. Finally, Advisory Services Network LLC grew its holdings in Tortoise Energy Infrastructure by 3.3% during the 4th quarter. Advisory Services Network LLC now owns 12,263 shares of the financial services provider's stock worth $502,000 after acquiring an additional 391 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, Director Conrad S. Ciccotello purchased 4,107 shares of the business's stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $42.24 per share, for a total transaction of $173,479.68. Following the acquisition, the director owned 16,225 shares of the company's stock, valued at approximately $685,344. This represents a 33.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Tortoise Energy Infrastructure Stock Down 0.1%

Shares of NYSE:TYG opened at $43.45 on Monday. Tortoise Energy Infrastructure Corporation has a 12-month low of $40.35 and a 12-month high of $51.18. The business has a fifty day simple moving average of $43.35 and a 200 day simple moving average of $45.87.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be given a dividend of $0.475 per share. The ex-dividend date is Monday, November 23rd. This represents a c) annualized dividend and a dividend yield of 13.1%.

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.

Want to see what other hedge funds are holding TYG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report).

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