Commerce Bank Purchases Shares of 68,825 Tortoise Energy Infrastructure Corporation $TYG

Commerce Bank acquired a new position in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 68,825 shares of the financial services provider’s stock, valued at approximately $2,951,000.

Other hedge funds have also modified their holdings of the company. Comerica Bank grew its holdings 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 valued at $45,000 after purchasing an additional 242 shares during the period. Parkside Financial Bank & Trust increased its position in 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 worth $41,000 after purchasing an additional 300 shares during the last quarter. Cahill Financial Advisors Inc. raised its stake in Tortoise Energy Infrastructure by 1.6% during the fourth quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider’s stock worth $864,000 after purchasing an additional 323 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Tortoise Energy Infrastructure by 5.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 7,295 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 355 shares during the last quarter. Finally, Samalin Investment Counsel LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 2.8% in the 4th quarter. Samalin Investment Counsel LLC now owns 13,712 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 374 shares during the last quarter. 32.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Conrad S. Ciccotello acquired 4,107 shares of the business’s stock in a transaction dated Thursday, June 25th. The shares were bought at an average cost of $42.24 per share, for a total transaction of $173,479.68. Following the acquisition, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.

Tortoise Energy Infrastructure Price Performance

Shares of NYSE TYG opened at $43.57 on Tuesday. Tortoise Energy Infrastructure Corporation has a 52-week low of $40.35 and a 52-week high of $51.18. The firm has a fifty day moving average of $43.27 and a 200-day moving average of $45.92.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 23rd will be paid a dividend of $0.475 per share. The ex-dividend date is Monday, November 23rd. This represents a c) annualized dividend and a yield of 13.1%.

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.