North Ground Capital Acquires Shares of 44,800 Tortoise Energy Infrastructure Corporation $TYG

Key Points

• North Ground Capital acquired 44,800 shares of Tortoise Energy Infrastructure in the second quarter, representing about 2.3% of its portfolio and approximately 0.18% of TYG’s outstanding shares.
• Institutional investors own 32.5% of TYG, while Director Conrad S. Ciccotello purchased 4,107 shares, increasing his position by 33.9%.
• TYG recently declared a $0.475 monthly dividend, equivalent to a stated annual yield of 12.7%; shares opened at $44.74, near the midpoint of their 52-week range.

North Ground Capital acquired a new stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,800 shares of the financial services provider's stock, valued at approximately $1,920,576,000. Tortoise Energy Infrastructure accounts for about 2.3% of North Ground Capital's investment portfolio, making the stock its 16th biggest holding. North Ground Capital owned approximately 0.18% of Tortoise Energy Infrastructure at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Comerica Bank increased its stake in shares of Tortoise Energy Infrastructure by 27.8% in the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider's stock worth $45,000 after buying an additional 242 shares during the period. Parkside Financial Bank & Trust boosted its position in Tortoise Energy Infrastructure by 42.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider's stock valued at $41,000 after buying an additional 300 shares during the period. Cahill Financial Advisors Inc. grew its holdings in Tortoise Energy Infrastructure by 1.6% in the 4th quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider's stock worth $864,000 after acquiring an additional 323 shares during the last quarter. Benjamin Edwards Inc. grew its holdings in Tortoise Energy Infrastructure by 5.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider's stock worth $320,000 after acquiring an additional 355 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its position in shares of Tortoise Energy Infrastructure by 2.8% in the fourth quarter. Samalin Investment Counsel LLC now owns 13,712 shares of the financial services provider's stock valued at $561,000 after acquiring an additional 374 shares during the period. Institutional investors own 32.50% of the company's stock.

Tortoise Energy Infrastructure Stock Down 0.1%

Shares of NYSE:TYG opened at $44.74 on Monday. The company has a 50-day moving average price of $43.26 and a 200-day moving average price of $45.92. Tortoise Energy Infrastructure Corporation has a 12 month low of $40.35 and a 12 month high of $51.18.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 23rd will be issued a dividend of $0.475 per share. This represents a c) dividend on an annualized basis and a yield of 12.7%. The ex-dividend date is Monday, November 23rd.

Insider Transactions at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, Director Conrad S. Ciccotello purchased 4,107 shares of the stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $42.24 per share, with a total value of $173,479.68. Following the transaction, the director directly owned 16,225 shares of the company's stock, valued at approximately $685,344. This trade represents a 33.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is currently owned by corporate insiders.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corp. NYSE: TYG is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm's investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.

Want to see what other hedge funds are holding TYG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report).

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