Gables Capital Management Inc. Invests $30,000 in Tortoise Energy Infrastructure Corp. (NYSE:TYG)

Gables Capital Management Inc. purchased a new position in shares of Tortoise Energy Infrastructure Corp. (NYSE:TYG) during the second quarter, HoldingsChannel reports. The firm purchased 1,861 shares of the financial services provider’s stock, valued at approximately $30,000.

Several other large investors have also modified their holdings of TYG. Bank of New York Mellon Corp increased its stake in Tortoise Energy Infrastructure by 7.0% in the fourth quarter. Bank of New York Mellon Corp now owns 13,629 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 886 shares in the last quarter. Guggenheim Capital LLC increased its stake in Tortoise Energy Infrastructure by 0.5% in the first quarter. Guggenheim Capital LLC now owns 240,388 shares of the financial services provider’s stock valued at $615,000 after purchasing an additional 1,090 shares in the last quarter. Baird Financial Group Inc. increased its position in shares of Tortoise Energy Infrastructure by 10.3% during the fourth quarter. Baird Financial Group Inc. now owns 15,547 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 1,450 shares in the last quarter. Peninsula Asset Management Inc. increased its position in shares of Tortoise Energy Infrastructure by 5.0% during the first quarter. Peninsula Asset Management Inc. now owns 31,674 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 1,513 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter worth about $9,275,000. Institutional investors own 25.00% of the company’s stock.

Shares of NYSE:TYG traded down $0.18 during midday trading on Friday, hitting $16.18. 50,923 shares of the company’s stock were exchanged, compared to its average volume of 147,747. The stock has a 50 day moving average price of $16.65 and a 200-day moving average price of $13.47. Tortoise Energy Infrastructure Corp. has a 12 month low of $4.60 and a 12 month high of $90.04.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 24th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date of this dividend was Thursday, July 23rd.

Separately, Bank of America raised shares of Tortoise Energy Infrastructure from an “underperform” rating to a “neutral” rating in a research report on Friday, July 10th.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.

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

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