Tortoise Energy Infrastructure (NYSE:TYG) Stock Price Passes Above 200 Day Moving Average – Time to Sell?
by Teresa Graham · The Cerbat GemTortoise Energy Infrastructure Corporation (NYSE:TYG – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $44.67 and traded as high as $47.95. Tortoise Energy Infrastructure shares last traded at $47.4650, with a volume of 68,576 shares trading hands.
Tortoise Energy Infrastructure Stock Performance
The firm has a 50 day simple moving average of $48.26 and a two-hundred day simple moving average of $44.74.
Tortoise Energy Infrastructure Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.475 per share. The ex-dividend date is Friday, May 22nd. This represents a c) annualized dividend and a yield of 11.8%.
Hedge Funds Weigh In On Tortoise Energy Infrastructure
Several large investors have recently bought and sold shares of the stock. Penserra Capital Management LLC increased its position in shares of Tortoise Energy Infrastructure by 21.5% during the 3rd quarter. Penserra Capital Management LLC now owns 144,252 shares of the financial services provider’s stock valued at $6,215,000 after purchasing an additional 25,478 shares during the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of Tortoise Energy Infrastructure during the 3rd quarter valued at $1,032,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Tortoise Energy Infrastructure by 29.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 139,778 shares of the financial services provider’s stock valued at $6,076,000 after purchasing an additional 31,790 shares during the last quarter. WJ Financial Advisors LLC purchased a new stake in shares of Tortoise Energy Infrastructure during the 3rd quarter valued at $1,034,000. Finally, Bard Associates Inc. increased its position in shares of Tortoise Energy Infrastructure by 584.0% during the 3rd quarter. Bard Associates Inc. now owns 114,419 shares of the financial services provider’s stock valued at $4,930,000 after purchasing an additional 97,692 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors.
Tortoise Energy Infrastructure Company Profile
Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.
The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.