Tortoise Energy Infrastructure (NYSE:TYG) Stock Price Passes Above 200 Day Moving Average of $30.63

Tortoise Energy Infrastructure Co. (NYSE:TYG)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $30.63 and traded as high as $34.47. Tortoise Energy Infrastructure shares last traded at $34.44, with a volume of 45,722 shares.

Tortoise Energy Infrastructure Stock Up 1.4 %

The stock has a 50 day moving average of $33.01 and a 200 day moving average of $30.68.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 8.14%. The ex-dividend date of this dividend was Thursday, May 23rd.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Several institutional investors have recently added to or reduced their stakes in TYG. Advisors Asset Management Inc. lifted its stake in Tortoise Energy Infrastructure by 27.3% in the third quarter. Advisors Asset Management Inc. now owns 224,356 shares of the financial services provider’s stock valued at $6,484,000 after buying an additional 48,167 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter valued at approximately $1,070,000. Matisse Capital increased its holdings in shares of Tortoise Energy Infrastructure by 155.4% during the fourth quarter. Matisse Capital now owns 58,814 shares of the financial services provider’s stock valued at $1,692,000 after acquiring an additional 35,790 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter valued at approximately $696,000. Finally, Mutual Advisors LLC bought a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter valued at approximately $650,000. 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.