LPL Financial LLC Boosts Stake in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• LPL Financial LLC increased its holdings in Tortoise Energy Infrastructure Corporation by 60.5% in the first quarter, now owning approximately $4.36 million worth of stock.
• Institutional investors hold a combined 32.50% of Tortoise Energy Infrastructure's stock, with several firms actively increasing their stakes in the company.
• Tortoise Energy Infrastructure recently declared a dividend of $0.365 per share, with an ex-dividend date of July 24, representing an impressive yield of 1,011.0%.

LPL Financial LLC increased its position in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) by 60.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,371 shares of the financial services provider's stock after buying an additional 38,223 shares during the period. LPL Financial LLC owned about 0.94% of Tortoise Energy Infrastructure worth $4,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at about $25,000. Comerica Bank boosted its holdings in shares of Tortoise Energy Infrastructure by 95.0% in the 4th quarter. Comerica Bank now owns 942 shares of the financial services provider's stock valued at $40,000 after buying an additional 459 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Tortoise Energy Infrastructure by 756.6% in the 1st quarter. Farther Finance Advisors LLC now owns 1,225 shares of the financial services provider's stock worth $53,000 after buying an additional 1,082 shares during the last quarter. Spire Wealth Management raised its stake in shares of 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 worth $69,000 after acquiring an additional 657 shares in the last quarter. Finally, Quarry LP purchased a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at approximately $82,000. 32.50% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Price Performance

NYSE TYG traded down $0.08 on Tuesday, hitting $43.02. The stock had a trading volume of 22,946 shares, compared to its average volume of 88,385. Tortoise Energy Infrastructure Corporation has a 52-week low of $33.73 and a 52-week high of $48.76. The business's fifty day moving average price is $42.90 and its 200 day moving average price is $42.01.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a dividend of $0.365 per share. The ex-dividend date is Tuesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend 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.