Tortoise Energy Infrastructure (NYSE:TYG) Hits New 52-Week High – What’s Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $49.86 and last traded at $49.7790, with a volume of 103764 shares trading hands. The stock had previously closed at $48.64.

Tortoise Energy Infrastructure Trading Up 0.6%

The company’s 50-day moving average price is $44.52 and its 200 day moving average price is $43.44.

Institutional Trading of Tortoise Energy Infrastructure

A number of hedge funds and other institutional investors have recently modified their holdings of TYG. Penserra Capital Management LLC increased its stake in Tortoise Energy Infrastructure by 21.5% during the third quarter. Penserra Capital Management LLC now owns 144,252 shares of the financial services provider’s stock worth $6,215,000 after purchasing an additional 25,478 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Tortoise Energy Infrastructure by 150.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 30,478 shares of the financial services provider’s stock valued at $1,338,000 after purchasing an additional 18,286 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tortoise Energy Infrastructure by 29.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 139,778 shares of the financial services provider’s stock valued at $6,076,000 after purchasing an additional 31,790 shares in the last quarter. Next Capital Management LLC purchased a new stake in Tortoise Energy Infrastructure during the 2nd quarter worth approximately $429,000. Finally, WJ Financial Advisors LLC purchased a new stake in Tortoise Energy Infrastructure during the 3rd quarter worth approximately $1,034,000. 32.50% of the stock is owned by institutional investors and hedge funds.

Tortoise Energy Infrastructure Company Profile

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.