Segment Wealth Management LLC Invests $646,000 in Tortoise Energy Infrastructure Corporation (NYSE:TYG)

Segment Wealth Management LLC purchased a new position in Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,000 shares of the financial services provider's stock, valued at approximately $646,000. Segment Wealth Management LLC owned about 0.14% of Tortoise Energy Infrastructure as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TYG. Saba Capital Management L.P. increased 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 valued at $44,053,000 after acquiring an additional 569,441 shares in the last quarter. Almitas Capital LLC purchased a new stake in Tortoise Energy Infrastructure during the 4th quarter valued at about $10,444,000. Wells Fargo & Company MN increased its stake in Tortoise Energy Infrastructure by 1,713.7% during the 4th quarter. Wells Fargo & Company MN now owns 222,159 shares of the financial services provider's stock valued at $9,331,000 after purchasing an additional 209,910 shares in the last quarter. Bulldog Investors LLP purchased a new position in Tortoise Energy Infrastructure in the fourth quarter worth about $7,997,000. Finally, Raymond James Financial Inc. purchased a new position in Tortoise Energy Infrastructure in the fourth quarter worth about $7,158,000. Institutional investors own 32.50% of the company's stock.

Tortoise Energy Infrastructure Trading Up 0.3%

Shares of NYSE:TYG traded up $0.12 during trading on Tuesday, reaching $42.18. 52,417 shares of the stock traded hands, compared to its average volume of 62,756. The stock has a 50-day moving average of $40.62 and a two-hundred day moving average of $42.30. Tortoise Energy Infrastructure Corporation has a 52-week low of $33.09 and a 52-week high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 24th will be issued a $0.365 dividend. This represents a dividend yield of 10.35%. The ex-dividend date of this dividend is Monday, June 23rd.

About Tortoise Energy Infrastructure

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.