Tortoise Energy Infrastructure (NYSE:TYG) Shares Pass Above 200 Day Moving Average – Should You Sell?

Tortoise Energy Infrastructure Co. (NYSE:TYG)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $38.16 and traded as high as $43.00. Tortoise Energy Infrastructure shares last traded at $41.93, with a volume of 40,653 shares changing hands.

Tortoise Energy Infrastructure Stock Performance

The stock’s 50-day moving average is $42.62 and its two-hundred day moving average is $38.27.

Tortoise Energy Infrastructure Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be paid a dividend of $0.365 per share. This represents a yield of 7.4%. The ex-dividend date of this dividend is Friday, February 21st.

Insiders Place Their Bets

In related news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the insider now owns 1,500,000 shares in the company, valued at $15,000,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TYG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Tortoise Energy Infrastructure in the third quarter worth approximately $82,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Tortoise Energy Infrastructure by 27.9% in the second quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 640 shares during the last quarter. Carmichael Hill & Associates Inc. grew its holdings in shares of Tortoise Energy Infrastructure by 9.4% in the second quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 682 shares during the last quarter. Bard Associates Inc. purchased a new position in Tortoise Energy Infrastructure in the 3rd quarter worth about $356,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Tortoise Energy Infrastructure by 48.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,872 shares of the financial services provider’s stock valued at $379,000 after buying an additional 3,561 shares during the period. 32.50% of the stock is owned by hedge funds and other institutional investors.

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.