Tortoise Energy Infrastructure (NYSE:TYG) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.83 and traded as high as $43.33. Tortoise Energy Infrastructure shares last traded at $43.02, with a volume of 60,930 shares traded.

Tortoise Energy Infrastructure Stock Up 0.3 %

The stock has a fifty day moving average of $43.96 and a 200-day moving average of $42.89.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were issued a $0.365 dividend. This represents a dividend yield of 10%. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several hedge funds and other institutional investors have recently bought and sold shares of TYG. JPMorgan Chase & Co. acquired a new position in Tortoise Energy Infrastructure in the fourth quarter valued at $25,000. Noble Wealth Management PBC acquired a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at about $30,000. Hartford Financial Management Inc. boosted its position in shares of Tortoise Energy Infrastructure by 37.5% in the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 219 shares during the period. Comerica Bank grew its stake in Tortoise Energy Infrastructure by 95.0% during the 4th quarter. Comerica Bank now owns 942 shares of the financial services provider’s stock worth $40,000 after buying an additional 459 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in Tortoise Energy Infrastructure during the fourth quarter worth approximately $46,000. 32.50% of the stock is currently owned by institutional investors and hedge funds.

About Tortoise Energy Infrastructure

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.