Tortoise Energy Infrastructure (NYSE:TYG) Sets New 12-Month High - What's Next?

Tortoise Energy Infrastructure Corporation (NYSE:TYG - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.01 and last traded at $50.7740, with a volume of 83648 shares. The stock had previously closed at $49.79.Tortoise Energy Infrastructure Trading Up 1.9%The stock has a 50-day simple moving average of $46.27 and a 200 day simple moving average of $43.92. Tortoise Energy Infrastructure Announces DividendThe company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 22nd will be paid a $0.475 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a c) annualized dividend and a yield of 11.2%. Institutional Inflows and OutflowsA number of institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Tortoise Energy Infrastructure in the 1st quarter worth about $242,000. NewEdge Advisors LLC increased its position in Tortoise Energy Infrastructure by 9.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider's stock worth $246,000 after purchasing an additional 500 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in Tortoise Energy Infrastructure by 150.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 30,478 shares of the financial services provider's stock worth $1,338,000 after purchasing an additional 18,286 shares in the last quarter. Walleye Capital LLC purchased a new position in Tortoise Energy Infrastructure in the second quarter valued at approximately $203,000. Finally, Cary Street Partners Financial LLC increased its holdings in Tortoise Energy Infrastructure by 7.7% in the 2nd quarter. Cary Street Partners Financial LLC now owns 6,970 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 32.50% of the company's stock. Tortoise Energy Infrastructure Company Profile (Get Free Report)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.Read MoreFive stocks we like better than Tortoise Energy InfrastructureThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Tortoise Energy Infrastructure Right Now?Before you consider Tortoise Energy Infrastructure, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tortoise Energy Infrastructure wasn't on the list.While Tortoise Energy Infrastructure currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here