Strategic Advocates LLC Makes New $914,000 Investment 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 position in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter worth $25,000. Comerica Bank lifted its holdings in shares of Tortoise Energy Infrastructure by 95.0% during the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider's stock worth $40,000 after buying an additional 459 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Tortoise Energy Infrastructure by 756.6% during the first quarter. Farther Finance Advisors LLC now owns 1,225 shares of the financial services provider's stock worth $53,000 after buying an additional 1,082 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Tortoise Energy Infrastructure by 68.9% during the first quarter. Spire Wealth Management now owns 1,611 shares of the financial services provider's stock worth $69,000 after buying an additional 657 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter worth $82,000. 32.50% of the stock is owned by institutional investors.

Tortoise Energy Infrastructure Stock Down 0.1%

TYG stock traded down $0.04 during midday trading on Tuesday, reaching $43.52. The company had a trading volume of 46,878 shares, compared to its average volume of 90,382. The stock has a 50 day moving average price of $42.44 and a 200-day moving average price of $42.21. Tortoise Energy Infrastructure Corporation has a 1-year low of $33.38 and a 1-year high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 25th were paid a $0.365 dividend. This represents a yield of 1,011.0%. The ex-dividend date of this dividend was Thursday, July 24th.

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.