Tortoise Energy Infrastructure Corporation (NYSE:TYG) Announces Monthly Dividend of $0.37

Key Points

• Tortoise Energy Infrastructure Corporation has announced a monthly dividend of $0.37 per share, which will be paid on September 30th to stockholders of record as of September 23rd.
• The announced dividend represents an annualized dividend yield of 10.2%.
• As of the latest trading, Tortoise Energy Infrastructure shares are priced at $43.09, with a 1-year low of $33.73 and a high of $48.76.

Tortoise Energy Infrastructure Corporation (NYSE:TYG - Get Free Report) declared a monthly dividend on Monday, August 18th, Wall Street Journal reports. Stockholders of record on Tuesday, September 23rd will be paid a dividend of 0.365 per share by the financial services provider on Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 23rd.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG traded down $0.1510 during trading hours on Friday, hitting $42.8090. 59,120 shares of the company were exchanged, compared to its average volume of 69,171. The firm has a fifty day simple moving average of $42.96 and a 200-day simple moving average of $41.96. Tortoise Energy Infrastructure has a one year low of $33.73 and a one year high of $48.76.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter worth $25,000. Comerica Bank boosted its stake in shares of Tortoise Energy Infrastructure by 95.0% during 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 in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Tortoise Energy Infrastructure by 756.6% during 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 in the last quarter. Spire Wealth Management boosted its stake in shares of Tortoise Energy Infrastructure by 68.9% during 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 in the last quarter. Finally, Quarry LP bought a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter worth $82,000. 32.50% of the stock is owned by institutional investors.

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.