Tortoise Energy Infrastructure (NYSE:TYG) Share Price Crosses Above 200-Day Moving Average - Here's Why

Tortoise Energy Infrastructure Co. (NYSE:TYG - Get Free Report) shares 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 trading hands.

Tortoise Energy Infrastructure Stock Up 0.3 %

The firm's 50 day simple moving average is $44.14 and its 200-day simple moving average is $42.83.

Tortoise Energy Infrastructure Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. grew its position in shares of 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 worth $457,000 after acquiring an additional 661 shares during the last quarter. Stifel Financial Corp grew its position in Tortoise Energy Infrastructure by 7.7% during the 3rd quarter. Stifel Financial Corp now owns 38,483 shares of the financial services provider's stock worth $1,510,000 after purchasing an additional 2,758 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Tortoise Energy Infrastructure by 58.6% in the third quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider's stock valued at $838,000 after purchasing an additional 7,891 shares during the period. Diversified Trust Co purchased a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at about $482,000. Finally, Eastern Bank purchased a new stake in Tortoise Energy Infrastructure during the 4th quarter valued at approximately $124,000. Institutional investors and hedge funds own 32.50% of the company's stock.

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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.