Sit Investment Associates Inc. Has $6.09 Million Stock Position in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• Sit Investment Associates Inc. reduced its holdings in Tortoise Energy Infrastructure Corporation by 25.9%, owning 141,338 shares after selling 49,352 shares during the first quarter.
• Other institutional investors, such as JPMorgan Chase and Comerica Bank, have also increased their stakes, indicating a mixed sentiment among institutional investors.
• Tortoise Energy Infrastructure announced a dividend of $0.365 per share, representing a 1,011.0% yield, with payments made on July 31st.

Sit Investment Associates Inc. lowered its stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) by 25.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 141,338 shares of the financial services provider's stock after selling 49,352 shares during the period. Sit Investment Associates Inc. owned about 1.31% of Tortoise Energy Infrastructure worth $6,085,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TYG. JPMorgan Chase & Co. acquired a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at $25,000. Comerica Bank raised its holdings in Tortoise Energy Infrastructure by 95.0% in the 4th quarter. Comerica Bank now owns 942 shares of the financial services provider's stock worth $40,000 after acquiring an additional 459 shares during the period. Farther Finance Advisors LLC raised its holdings in 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 acquiring an additional 1,082 shares during the period. Spire Wealth Management raised its holdings in Tortoise Energy Infrastructure by 68.9% in 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 during the period. Finally, Quarry LP bought a new position in Tortoise Energy Infrastructure in the 4th quarter worth $82,000. Institutional investors and hedge funds own 32.50% of the company's stock.

Tortoise Energy Infrastructure Stock Performance

TYG traded down $0.11 during trading on Tuesday, hitting $42.99. The stock had a trading volume of 83,614 shares, compared to its average volume of 88,813. The company has a 50 day simple moving average of $42.90 and a 200-day simple moving average of $42.01. Tortoise Energy Infrastructure Corporation has a 12 month low of $33.73 and a 12 month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be paid 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.