Crescent Grove Advisors LLC bought a new stake in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) during the second quarter, Holdings Channel reports. The firm bought 121,976 shares of the financial services provider’s stock, valued at approximately $3,707,000. Tortoise Energy Infrastructure Corporation makes up about 1.1% of Crescent Grove Advisors LLC’s holdings, making the stock its 16th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Paragon Capital Management LLC raised its position in Tortoise Energy Infrastructure Corporation by 8.7% in the first quarter. Paragon Capital Management LLC now owns 262,862 shares of the financial services provider’s stock valued at $9,171,000 after buying an additional 21,020 shares in the last quarter. Commerce Bank raised its position in Tortoise Energy Infrastructure Corporation by 8.2% in the first quarter. Commerce Bank now owns 154,319 shares of the financial services provider’s stock valued at $5,384,000 after buying an additional 11,735 shares in the last quarter. Geneva Advisors LLC raised its position in Tortoise Energy Infrastructure Corporation by 3.2% in the first quarter. Geneva Advisors LLC now owns 31,933 shares of the financial services provider’s stock valued at $1,114,000 after buying an additional 1,000 shares in the last quarter. Wells Fargo & Company MN raised its position in Tortoise Energy Infrastructure Corporation by 1.7% in the first quarter. Wells Fargo & Company MN now owns 653,106 shares of the financial services provider’s stock valued at $22,788,000 after buying an additional 10,964 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its position in Tortoise Energy Infrastructure Corporation by 79.7% in the first quarter. Janney Montgomery Scott LLC now owns 26,402 shares of the financial services provider’s stock valued at $921,000 after buying an additional 11,707 shares in the last quarter. 34.19% of the stock is owned by institutional investors.

Tortoise Energy Infrastructure Corporation (TYG) opened at 28.61 on Friday. Tortoise Energy Infrastructure Corporation has a 12-month low of $27.40 and a 12-month high of $37.11. The stock has a 50 day moving average price of $30.01 and a 200 day moving average price of $32.48.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.655 per share. The ex-dividend date is Tuesday, August 22nd. This represents a $2.62 annualized dividend and a dividend yield of 9.16%.

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Separately, Stifel Nicolaus raised Tortoise Energy Infrastructure Corporation from a “hold” rating to a “buy” rating and reduced their target price for the company from $35.00 to $34.00 in a report on Wednesday, June 28th. They noted that the move was a valuation call.

About Tortoise Energy Infrastructure Corporation

Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.

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Institutional Ownership by Quarter for Tortoise Energy Infrastructure Corporation (NYSE:TYG)

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