Tortoise Energy Infrastructure (NYSE:TYG) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Tortoise Energy Infrastructure Co. (NYSE:TYG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.83 and traded as high as $43.33. Tortoise Energy Infrastructure shares last traded at $43.02, with a volume of 60,930 shares.

Tortoise Energy Infrastructure Trading Down 0.5 %

The company’s 50 day moving average price is $44.14 and its 200 day moving average price is $42.83.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.365 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a yield of 10%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hartford Financial Management Inc. boosted its position in Tortoise Energy Infrastructure by 37.5% in the fourth quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock valued at $34,000 after buying an additional 219 shares during the last quarter. Comerica Bank boosted its holdings in shares of Tortoise Energy Infrastructure by 95.0% in the 4th quarter. Comerica Bank now owns 942 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 459 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter worth $25,000. Jaffetilchin Investment Partners LLC raised its holdings in shares of Tortoise Energy Infrastructure by 13.3% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 5,239 shares of the financial services provider’s stock worth $220,000 after purchasing an additional 613 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in Tortoise Energy Infrastructure by 6.0% during the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 661 shares during the period. 32.50% of the stock is owned by institutional investors and hedge funds.

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.