Benjamin Edwards Inc. Acquires New Shares in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• Benjamin Edwards Inc. has acquired a new stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG), buying 6,940 shares valued at approximately $299,000, representing a 0.06% ownership.
• Other institutional investors, such as Saba Capital Management L.P. and Almitas Capital LLC, have significantly increased their stakes in TYG, showcasing strong interest in the company.
• Tortoise Energy Infrastructure recently declared a dividend of $0.365 per share, which translates to an extraordinary dividend yield of 1,011.0%.

Benjamin Edwards Inc. acquired a new stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 6,940 shares of the financial services provider's stock, valued at approximately $299,000. Benjamin Edwards Inc. owned approximately 0.06% of Tortoise Energy Infrastructure at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Focus Partners Advisor Solutions LLC purchased a new stake in Tortoise Energy Infrastructure during the 4th quarter valued at about $785,000. Spire Wealth Management grew its stake in Tortoise Energy Infrastructure by 68.9% during the 1st quarter. Spire Wealth Management now owns 1,611 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 657 shares in the last quarter. Bank of America Corp DE grew its stake in Tortoise Energy Infrastructure by 56.1% during the 4th quarter. Bank of America Corp DE now owns 61,617 shares of the financial services provider's stock valued at $2,588,000 after acquiring an additional 22,156 shares in the last quarter. Fiduciary Alliance LLC purchased a new stake in Tortoise Energy Infrastructure during the 1st quarter valued at about $321,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Tortoise Energy Infrastructure by 1.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 105,434 shares of the financial services provider's stock valued at $4,539,000 after acquiring an additional 1,634 shares in the last quarter. Hedge funds and other institutional investors own 32.50% of the company's stock.

Tortoise Energy Infrastructure Stock Down 0.2%

NYSE TYG traded down $0.0810 during trading hours on Thursday, hitting $42.9490. 59,754 shares of the company's stock traded hands, compared to its average volume of 69,124. Tortoise Energy Infrastructure Corporation has a 52-week low of $33.73 and a 52-week high of $48.76. The firm's 50-day moving average is $42.96 and its 200-day moving average is $42.01.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be issued a $0.365 dividend. The ex-dividend date is Tuesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 10.2%.

Tortoise Energy Infrastructure 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.