Sit Investment Associates Inc. Sells 49,352 Shares of 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. trimmed its holdings in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) by 25.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,338 shares of the financial services provider's stock after selling 49,352 shares during the quarter. Sit Investment Associates Inc. owned 1.31% of Tortoise Energy Infrastructure worth $6,085,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. increased its stake in Tortoise Energy Infrastructure by 52.8% during the first quarter. Invesco Ltd. now owns 39,151 shares of the financial services provider's stock worth $1,685,000 after acquiring an additional 13,530 shares during the last quarter. Benjamin Edwards Inc. purchased a new position in shares of Tortoise Energy Infrastructure in the 1st quarter worth approximately $299,000. LaSalle St. Investment Advisors LLC increased its position in shares of Tortoise Energy Infrastructure by 6.1% during the 1st quarter. LaSalle St. Investment Advisors LLC now owns 17,955 shares of the financial services provider's stock valued at $772,000 after purchasing an additional 1,040 shares during the last quarter. MGB Wealth Management LLC increased its position in shares of Tortoise Energy Infrastructure by 1.1% during the 1st quarter. MGB Wealth Management LLC now owns 23,295 shares of the financial services provider's stock valued at $1,003,000 after purchasing an additional 258 shares during the last quarter. Finally, Strategic Advocates LLC purchased a new stake in Tortoise Energy Infrastructure during the 1st quarter valued at $914,000. Institutional investors own 32.50% of the company's stock.

Tortoise Energy Infrastructure Stock Up 0.0%

TYG traded up $0.01 during trading on Wednesday, reaching $43.04. The company had a trading volume of 92,417 shares, compared to its average volume of 67,621. The business has a 50 day simple moving average of $42.95 and a 200-day simple moving average of $42.02. Tortoise Energy Infrastructure Corporation has a 52 week low of $33.73 and a 52 week high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

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