Tortoise Energy Infrastructure (NYSE:TYG) Stock Price Passes Above 200-Day Moving Average of $30.41

Tortoise Energy Infrastructure Co. (NYSE:TYG)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $30.41 and traded as high as $33.08. Tortoise Energy Infrastructure shares last traded at $32.86, with a volume of 32,734 shares trading hands.

Tortoise Energy Infrastructure Price Performance

The company’s 50 day moving average is $32.53 and its 200 day moving average is $30.41.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were given a dividend of $0.71 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 8.64%.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

A number of large investors have recently added to or reduced their stakes in TYG. Baystate Wealth Management LLC acquired a new stake in Tortoise Energy Infrastructure during the fourth quarter worth about $27,000. Spire Wealth Management lifted its holdings in shares of Tortoise Energy Infrastructure by 150.7% during the 1st quarter. Spire Wealth Management now owns 1,093 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 657 shares during the period. JNBA Financial Advisors acquired a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter worth approximately $45,000. Blue Bell Private Wealth Management LLC increased its stake in Tortoise Energy Infrastructure by 282.3% in the first quarter. Blue Bell Private Wealth Management LLC now owns 2,294 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 1,694 shares during the last quarter. Finally, Garner Asset Management Corp acquired a new position in Tortoise Energy Infrastructure during the fourth quarter valued at approximately $97,000. Institutional investors and hedge funds own 32.50% of the company’s stock.

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.