Monetary Management Group Inc. Raises Holdings in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• Monetary Management Group Inc. increased its holdings in Tortoise Energy Infrastructure Corporation by 44.0%, owning approximately 36,730 shares worth about $1.58 million.
• Other institutional investors, including Saba Capital Management L.P. and Raymond James Financial Inc., have also significantly increased their stakes in Tortoise Energy Infrastructure, with Saba adding 118.8% during the last quarter.
• Tortoise Energy Infrastructure recently declared a monthly dividend of $0.365, which equates to an annualized yield of 10.2% for shareholders of record on September 23rd.

Monetary Management Group Inc. lifted its holdings in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) by 44.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 36,730 shares of the financial services provider's stock after acquiring an additional 11,221 shares during the period. Monetary Management Group Inc. owned approximately 0.34% of Tortoise Energy Infrastructure worth $1,581,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Saba Capital Management L.P. lifted its holdings in shares of Tortoise Energy Infrastructure by 118.8% during the fourth quarter. Saba Capital Management L.P. now owns 1,048,879 shares of the financial services provider's stock worth $44,053,000 after purchasing an additional 569,441 shares during the period. Raymond James Financial Inc. lifted its holdings in Tortoise Energy Infrastructure by 50.6% in the first quarter. Raymond James Financial Inc. now owns 256,729 shares of the financial services provider's stock valued at $11,052,000 after acquiring an additional 86,304 shares during the period. Almitas Capital LLC acquired a new position in Tortoise Energy Infrastructure in the fourth quarter valued at approximately $10,444,000. Bulldog Investors LLP acquired a new position in Tortoise Energy Infrastructure in the fourth quarter valued at approximately $7,997,000. Finally, Penserra Capital Management LLC acquired a new position in Tortoise Energy Infrastructure in the first quarter valued at approximately $4,962,000. Institutional investors and hedge funds own 32.50% of the company's stock.

Tortoise Energy Infrastructure Price Performance

Shares of NYSE:TYG opened at $42.9490 on Friday. Tortoise Energy Infrastructure Corporation has a 12-month low of $33.73 and a 12-month high of $48.76. The business has a 50 day moving average of $42.96 and a two-hundred day moving average of $42.01.

Tortoise Energy Infrastructure Announces Dividend

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

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.

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