Tortoise Energy Infrastructure (NYSE:TYG) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• Tortoise Energy Infrastructure shares moved above their 200-day moving average, trading as high as $48.74 and last around $48.32 versus a 200‑day MA of $45.19.
• The company declared a monthly dividend of $0.475, payable May 29 with an ex-dividend/record date of May 22, implying an annualized yield of about 11.8%.
• Around 32.5% of the stock is owned by hedge funds and institutional investors, and several institutions modestly increased their stakes in recent filings.

Tortoise Energy Infrastructure Corporation (NYSE:TYG - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $45.19 and traded as high as $48.74. Tortoise Energy Infrastructure shares last traded at $48.3240, with a volume of 60,385 shares traded.

Tortoise Energy Infrastructure Price Performance

The stock's 50-day moving average is $48.77 and its two-hundred day moving average is $45.19.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 22nd will be given a $0.475 dividend. This represents a c) dividend on an annualized basis and a yield of 11.8%. The ex-dividend date of this dividend is Friday, May 22nd.

Institutional Trading of Tortoise Energy Infrastructure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank raised its position in Tortoise Energy Infrastructure by 27.8% in the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider's stock worth $45,000 after purchasing an additional 242 shares during the period. Samalin Investment Counsel LLC raised its position in Tortoise Energy Infrastructure by 2.0% in the 3rd quarter. Samalin Investment Counsel LLC now owns 13,338 shares of the financial services provider's stock worth $575,000 after purchasing an additional 258 shares during the period. Parkside Financial Bank & Trust raised its position in Tortoise Energy Infrastructure by 42.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider's stock worth $41,000 after purchasing an additional 300 shares during the period. Cahill Financial Advisors Inc. raised its position in Tortoise Energy Infrastructure by 1.6% in the 4th quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider's stock worth $864,000 after purchasing an additional 323 shares during the period. Finally, Diversified Trust Co. raised its position in Tortoise Energy Infrastructure by 4.1% in the 4th quarter. Diversified Trust Co. now owns 9,106 shares of the financial services provider's stock worth $372,000 after purchasing an additional 355 shares during the period. 32.50% of the stock is owned by hedge funds and other 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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