LaSalle St. Investment Advisors LLC Acquires New Shares in Tortoise Energy Infrastructure Corporation $TYG

LaSalle St. Investment Advisors LLC acquired a new position in Tortoise Energy Infrastructure Corporation (NYSE:TYG) in the 2nd quarter, Holdings Channel reports. The firm acquired 24,545 shares of the financial services provider’s stock, valued at approximately $1,052,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in Tortoise Energy Infrastructure in the first quarter valued at $36,000. Parkside Financial Bank & Trust grew its holdings in shares of Tortoise Energy Infrastructure by 42.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 300 shares during the period. Comerica Bank grew its holdings in shares of Tortoise Energy Infrastructure by 27.8% during the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 242 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of Tortoise Energy Infrastructure by 255.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock worth $77,000 after purchasing an additional 1,360 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of Tortoise Energy Infrastructure by 31.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,826 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 921 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

Insider Buying and Selling at Tortoise Energy Infrastructure

In related news, Director Conrad S. Ciccotello purchased 4,107 shares of Tortoise Energy Infrastructure stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $42.24 per share, with a total value of $173,479.68. Following the purchase, the director owned 16,225 shares of the company’s stock, valued at approximately $685,344. The trade was a 33.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG opened at $44.77 on Friday. The company’s 50-day moving average price is $43.22 and its 200 day moving average price is $45.92. Tortoise Energy Infrastructure Corporation has a 12-month low of $40.35 and a 12-month high of $51.18.

Tortoise Energy Infrastructure Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be given a dividend of $0.475 per share. The ex-dividend date is Monday, November 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%.

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.