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

Tortoise Energy Infrastructure Co. (NYSE:TYG) shares passed 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 changing hands.

Tortoise Energy Infrastructure Price Performance

The business’s 50-day simple moving average is $44.14 and its two-hundred day simple moving average is $42.83.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.365 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a yield of 10%.

Institutional Trading of Tortoise Energy Infrastructure

Institutional investors have recently bought and sold shares of the business. Saba Capital Management L.P. lifted its position in shares of Tortoise Energy Infrastructure by 118.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,048,879 shares of the financial services provider’s stock valued at $44,053,000 after buying an additional 569,441 shares in the last quarter. Advisors Asset Management Inc. raised its position in Tortoise Energy Infrastructure by 53.8% during the fourth quarter. Advisors Asset Management Inc. now owns 386,221 shares of the financial services provider’s stock worth $16,221,000 after acquiring an additional 135,146 shares during the period. Aristides Capital LLC lifted its holdings in Tortoise Energy Infrastructure by 128.7% during the fourth quarter. Aristides Capital LLC now owns 269,253 shares of the financial services provider’s stock valued at $11,309,000 after purchasing an additional 151,510 shares in the last quarter. Almitas Capital LLC acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at about $10,444,000. Finally, Wells Fargo & Company MN increased its stake in shares of Tortoise Energy Infrastructure by 1,713.7% during the fourth quarter. Wells Fargo & Company MN now owns 222,159 shares of the financial services provider’s stock worth $9,331,000 after purchasing an additional 209,910 shares in the last quarter. 32.50% of the stock is 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.