Strategic Advocates LLC Takes $914,000 Position in Tortoise Energy Infrastructure Corporation (NYSE:TYG)

Key Points

• Strategic Advocates LLC acquired a new position in Tortoise Energy Infrastructure Corporation, purchasing 21,229 shares valued at approximately $914,000.
• In the 4th quarter, various institutional investors made significant modifications to their holdings, including Commonwealth Equity Services LLC increasing its stake by 46.2%.
• Tortoise Energy Infrastructure recently announced a dividend of $0.365 per share, leading to an impressive yield of 1,011.0%.

Strategic Advocates LLC purchased a new stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 21,229 shares of the financial services provider's stock, valued at approximately $914,000. Strategic Advocates LLC owned approximately 0.20% of Tortoise Energy Infrastructure as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TYG. Commonwealth Equity Services LLC lifted its stake in shares of Tortoise Energy Infrastructure by 46.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 16,082 shares of the financial services provider's stock valued at $675,000 after purchasing an additional 5,080 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at $25,000. Wells Fargo & Company MN lifted its stake in shares of Tortoise Energy Infrastructure by 1,713.7% in 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 during the last quarter. Sit Investment Associates Inc. lifted its stake in shares of Tortoise Energy Infrastructure by 44.7% in the 4th quarter. Sit Investment Associates Inc. now owns 190,690 shares of the financial services provider's stock valued at $8,009,000 after purchasing an additional 58,938 shares during the last quarter. Finally, Aristides Capital LLC lifted its stake in shares of Tortoise Energy Infrastructure by 128.7% in the 4th quarter. Aristides Capital LLC now owns 269,253 shares of the financial services provider's stock valued at $11,309,000 after purchasing an additional 151,510 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company's stock.

Tortoise Energy Infrastructure Stock Up 0.3%

TYG stock opened at $43.36 on Friday. Tortoise Energy Infrastructure Corporation has a 1 year low of $33.08 and a 1 year high of $48.76. The company has a fifty day simple moving average of $42.31 and a 200 day simple moving average of $42.30.

Tortoise Energy Infrastructure Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 25th were given a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, July 24th. This represents a yield of 1,011.0%.

Tortoise Energy Infrastructure 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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