Bank of America Corp DE Raises Stock Position in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Bank of America Corp DE raised its stake in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) by 56.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,617 shares of the financial services provider's stock after acquiring an additional 22,156 shares during the period. Bank of America Corp DE owned approximately 0.57% of Tortoise Energy Infrastructure worth $2,588,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TYG. Janney Montgomery Scott LLC boosted its stake in shares of Tortoise Energy Infrastructure by 39.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 31,715 shares of the financial services provider's stock valued at $1,332,000 after purchasing an additional 9,007 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Tortoise Energy Infrastructure by 13.6% in the fourth quarter. DAVENPORT & Co LLC now owns 7,622 shares of the financial services provider's stock valued at $320,000 after purchasing an additional 915 shares during the period. Absolute Investment Advisers LLC purchased a new position in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $214,000. Catalina Capital Group LLC purchased a new position in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $266,000. Finally, Calamos Advisors LLC purchased a new position in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $329,000. 32.50% of the stock is currently owned by institutional investors and hedge funds.

Tortoise Energy Infrastructure Trading Down 0.3%

Shares of NYSE TYG traded down $0.13 during midday trading on Thursday, hitting $41.10. The company's stock had a trading volume of 27,938 shares, compared to its average volume of 61,242. The business's fifty day simple moving average is $39.74 and its two-hundred day simple moving average is $42.57. Tortoise Energy Infrastructure Co. has a 1 year low of $32.60 and a 1 year high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 22nd will be paid a $0.365 dividend. This represents a $4.38 annualized dividend and a dividend yield of 10.66%. The ex-dividend date is Friday, August 22nd.

About Tortoise Energy Infrastructure

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.