Tortoise Energy Infrastructure (NYSE:TYG) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Tortoise Energy Infrastructure Co. (NYSE:TYG)’s stock price 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 traded.

Tortoise Energy Infrastructure Stock Performance

The business has a 50-day moving average price of $43.96 and a two-hundred day moving average price of $42.89.

Tortoise Energy Infrastructure Announces Dividend

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

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in Tortoise Energy Infrastructure in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter worth $30,000. Hartford Financial Management Inc. grew its stake in shares of Tortoise Energy Infrastructure by 37.5% during the fourth quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 219 shares in the last quarter. Comerica Bank increased its holdings in Tortoise Energy Infrastructure by 95.0% in the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider’s stock valued at $40,000 after buying an additional 459 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in Tortoise Energy Infrastructure in the fourth quarter valued at $46,000. 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.