Tortoise Energy Infrastructure Corporation $TYG Shares Sold by Verity Asset Management Inc.

Verity Asset Management Inc. lessened its stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 15.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,742 shares of the financial services provider’s stock after selling 1,407 shares during the quarter. Verity Asset Management Inc.’s holdings in Tortoise Energy Infrastructure were worth $340,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. MGB Wealth Management LLC boosted its stake in Tortoise Energy Infrastructure by 1.1% during the first quarter. MGB Wealth Management LLC now owns 23,295 shares of the financial services provider’s stock worth $1,003,000 after buying an additional 258 shares during the period. NewEdge Advisors LLC boosted its stake in Tortoise Energy Infrastructure by 9.6% during the first quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock worth $246,000 after buying an additional 500 shares during the period. D.A. Davidson & CO. boosted its stake in Tortoise Energy Infrastructure by 4.7% during the first quarter. D.A. Davidson & CO. now owns 14,022 shares of the financial services provider’s stock worth $604,000 after buying an additional 629 shares during the period. Eagle Bluffs Wealth Management LLC boosted its stake in Tortoise Energy Infrastructure by 0.8% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 84,293 shares of the financial services provider’s stock worth $3,700,000 after buying an additional 666 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Tortoise Energy Infrastructure by 47.6% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,100 shares of the financial services provider’s stock worth $136,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Up 1.8%

Shares of TYG stock opened at $44.19 on Tuesday. The company has a 50-day moving average of $42.71 and a two-hundred day moving average of $42.16. Tortoise Energy Infrastructure Corporation has a 1-year low of $33.73 and a 1-year high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 24th were paid a dividend of $0.365 per share. This represents a c) annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend was Friday, October 24th.

Insiders Place Their Bets

In related news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the stock in a transaction on Thursday, August 21st. The stock was bought at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the insider directly owned 1,500,000 shares in the company, valued at $15,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company insiders.

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.