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

Tortoise Energy Infrastructure Co. (NYSE:TYG) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Tortoise Energy Infrastructure Stock Up 1.4 %

The firm’s fifty day simple moving average is $33.01 and its 200 day simple moving average is $30.68.

Tortoise Energy Infrastructure Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of 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 worth $6,484,000 after purchasing an additional 48,167 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $1,070,000. Matisse Capital raised its position in shares of Tortoise Energy Infrastructure by 155.4% in the fourth quarter. Matisse Capital now owns 58,814 shares of the financial services provider’s stock valued at $1,692,000 after purchasing an additional 35,790 shares during the period. Weiss Asset Management LP bought a new position in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $696,000. Finally, Mutual Advisors LLC bought a new position in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $650,000. 32.50% of the stock is currently 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.