Tortoise Energy Infrastructure (NYSE:TYG) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Tortoise Energy Infrastructure (TYG) shares crossed above their 200-day moving average (200‑day = $44.67), trading as high as $47.95 and last at $47.4650 on volume of 68,576 shares.
• The company declared a monthly dividend of $0.475 per share, payable May 29 with record/ex-dividend date May 22, implying a roughly 12.0% yield.
• TYG is a closed-end management investment company focused on energy midstream infrastructure, and about 32.5% of the stock is held by institutional investors, with several funds modestly increasing positions recently.

Tortoise Energy Infrastructure Corporation (NYSE:TYG - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $44.67 and traded as high as $47.95. Tortoise Energy Infrastructure shares last traded at $47.4650, with a volume of 68,576 shares trading hands.

Tortoise Energy Infrastructure Stock Performance

The business's 50 day simple moving average is $48.10 and its two-hundred day simple moving average is $44.67.

Tortoise Energy Infrastructure Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 22nd will be paid a $0.475 dividend. The ex-dividend date is Friday, May 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%.

Institutional Trading of Tortoise Energy Infrastructure

A number of large investors have recently made changes to their positions in TYG. Comerica Bank grew its position in Tortoise Energy Infrastructure by 27.8% during the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider's stock valued at $45,000 after buying an additional 242 shares during the period. Samalin Investment Counsel LLC grew its position in Tortoise Energy Infrastructure by 2.0% during the third quarter. Samalin Investment Counsel LLC now owns 13,338 shares of the financial services provider's stock valued at $575,000 after buying an additional 258 shares during the period. Parkside Financial Bank & Trust grew its position in Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider's stock valued at $41,000 after buying an additional 300 shares during the period. Cahill Financial Advisors Inc. grew its position in Tortoise Energy Infrastructure by 1.6% during the fourth quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider's stock valued at $864,000 after buying an additional 323 shares during the period. Finally, Diversified Trust Co. grew its position in Tortoise Energy Infrastructure by 4.1% during the fourth quarter. Diversified Trust Co. now owns 9,106 shares of the financial services provider's stock valued at $372,000 after buying an additional 355 shares during the period. 32.50% of the stock is currently owned by institutional investors.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corp. NYSE: TYG is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm's investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.

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