Tortoise Energy Infrastructure (NYSE:TYG) Reaches New 12-Month Low – What’s Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $38.37 and last traded at $38.4690, with a volume of 252872 shares traded. The stock had previously closed at $40.02.

Tortoise Energy Infrastructure Stock Up 0.2%

The stock has a 50 day simple moving average of $42.79 and a 200-day simple moving average of $44.81.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 23rd will be issued a dividend of $0.4750 per share. This represents a $5.70 annualized dividend and a dividend yield of 14.9%. The ex-dividend date of this dividend is Monday, November 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TYG. Fifth Third Bancorp bought a new position in Tortoise Energy Infrastructure in the 1st quarter valued at $36,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Tortoise Energy Infrastructure during the second quarter worth $54,000. Rockefeller Capital Management L.P. lifted its position in shares of Tortoise Energy Infrastructure by 255.6% during the fourth 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. Ameritas Advisory Services LLC purchased a new stake in shares of Tortoise Energy Infrastructure during the second quarter valued at $143,000. Finally, Fortitude Advisory Group L.L.C. purchased a new stake in shares of Tortoise Energy Infrastructure during the first quarter valued at $204,000. Institutional investors own 32.50% of the company’s stock.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a publicly traded closed-end investment company focused on the energy infrastructure sector. Rather than operating energy assets directly, the fund invests in companies and securities associated with the transportation, storage, processing and distribution of energy resources.

Its portfolio may include master limited partnerships, corporations and other entities involved in midstream energy infrastructure, including oil, natural gas and natural gas liquids pipelines, terminals, gathering and processing facilities, and related assets.