North Ground Capital Acquires Shares of 44,800 Tortoise Energy Infrastructure Corporation $TYG

North Ground Capital acquired a new position in Tortoise Energy Infrastructure Corporation (NYSE:TYG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,800 shares of the financial services provider’s stock, valued at approximately $1,920,576,000. Tortoise Energy Infrastructure makes up 2.3% of North Ground Capital’s investment portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Fifth Third Bancorp bought a new stake in shares of Tortoise Energy Infrastructure during the 1st quarter valued at about $36,000. Parkside Financial Bank & Trust increased its position in shares of Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock valued at $41,000 after buying an additional 300 shares during the period. Comerica Bank raised its stake in Tortoise Energy Infrastructure by 27.8% in the fourth quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after buying an additional 242 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in Tortoise Energy Infrastructure in the second quarter worth about $54,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Tortoise Energy Infrastructure by 255.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock worth $77,000 after buying an additional 1,360 shares during the period. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG opened at $44.74 on Monday. The company has a 50-day simple moving average of $43.26 and a two-hundred day simple moving average of $45.92. Tortoise Energy Infrastructure Corporation has a one year low of $40.35 and a one year high of $51.18.

Tortoise Energy Infrastructure Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be given a $0.475 dividend. The ex-dividend date of this dividend is Monday, November 23rd. This represents a c) annualized dividend and a dividend yield of 12.7%.

Insider Activity at Tortoise Energy Infrastructure

In other news, Director Conrad S. Ciccotello bought 4,107 shares of the stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the purchase, the director directly owned 16,225 shares in the company, valued at $685,344. This trade represents a 33.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

About Tortoise Energy Infrastructure

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.