Bank of America Corp DE Purchases 22,156 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG)

Bank of America Corp DE boosted its holdings in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) by 56.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,617 shares of the financial services provider's stock after buying 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.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TYG. Comerica Bank lifted its holdings in shares of Tortoise Energy Infrastructure by 95.0% during the 4th quarter. Comerica Bank now owns 942 shares of the financial services provider's stock worth $40,000 after acquiring an additional 459 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at about $25,000. Jaffetilchin Investment Partners LLC lifted its stake in Tortoise Energy Infrastructure by 13.3% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 5,239 shares of the financial services provider's stock worth $220,000 after purchasing an additional 613 shares during the last quarter. Noble Wealth Management PBC bought a new stake in Tortoise Energy Infrastructure during the fourth quarter worth about $30,000. Finally, DAVENPORT & Co LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 13.6% in the 4th quarter. DAVENPORT & Co LLC now owns 7,622 shares of the financial services provider's stock worth $320,000 after purchasing an additional 915 shares in the last quarter. 32.50% of the stock is currently owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Price Performance

Shares of Tortoise Energy Infrastructure stock traded up $0.43 during trading on Tuesday, hitting $41.47. 53,708 shares of the stock traded hands, compared to its average volume of 61,225. Tortoise Energy Infrastructure Co. has a 52 week low of $32.60 and a 52 week high of $48.76. The firm's fifty day moving average is $39.86 and its 200-day moving average is $42.60.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 22nd will be issued a $0.365 dividend. This represents a $4.38 annualized dividend and a dividend yield of 10.56%. The ex-dividend date of this dividend is Friday, August 22nd.

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.