Cornerstone Advisory LLC Acquires New Shares in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Cornerstone Advisory LLC bought a new position in Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,848 shares of the financial services provider's stock, valued at approximately $448,000. Cornerstone Advisory LLC owned 0.09% of Tortoise Energy Infrastructure at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TYG. JPMorgan Chase & Co. bought a new position in shares of Tortoise Energy Infrastructure during the fourth quarter worth about $25,000. Noble Wealth Management PBC bought a new position in Tortoise Energy Infrastructure in the 4th quarter worth about $30,000. Hartford Financial Management Inc. grew its position in Tortoise Energy Infrastructure by 37.5% in the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider's stock worth $34,000 after purchasing an additional 219 shares during the last quarter. Comerica Bank increased its stake in shares of Tortoise Energy Infrastructure by 95.0% in the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 459 shares during the period. Finally, Principal Securities Inc. bought a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter valued at approximately $46,000. 32.50% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Price Performance

Shares of TYG stock opened at $40.50 on Friday. Tortoise Energy Infrastructure Co. has a 12-month low of $32.50 and a 12-month high of $48.76. The business has a 50 day simple moving average of $40.33 and a 200 day simple moving average of $42.69.

Tortoise Energy Infrastructure Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 22nd will be given a $0.365 dividend. The ex-dividend date is Friday, August 22nd. This represents a $4.38 dividend on an annualized basis and a yield of 10.81%.

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.

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