Parkside Financial Bank & Trust Decreases Position in Tortoise Energy Infrastructure Corporation (NYSE:TYG)

Parkside Financial Bank & Trust cut its position in Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,242 shares of the financial services provider’s stock after selling 10,208 shares during the period. Tortoise Energy Infrastructure Corporation comprises approximately 2.1% of Parkside Financial Bank & Trust’s holdings, making the stock its 11th largest position. Parkside Financial Bank & Trust’s holdings in Tortoise Energy Infrastructure Corporation were worth $5,022,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Commerce Bank increased its position in Tortoise Energy Infrastructure Corporation by 8.2% in the first quarter. Commerce Bank now owns 154,319 shares of the financial services provider’s stock worth $5,384,000 after buying an additional 11,735 shares in the last quarter. Geneva Advisors LLC increased its position in Tortoise Energy Infrastructure Corporation by 3.2% in the first quarter. Geneva Advisors LLC now owns 31,933 shares of the financial services provider’s stock worth $1,114,000 after buying an additional 1,000 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Tortoise Energy Infrastructure Corporation by 1.7% in the first quarter. Wells Fargo & Company MN now owns 653,106 shares of the financial services provider’s stock worth $22,788,000 after buying an additional 10,964 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Tortoise Energy Infrastructure Corporation by 79.7% in the first quarter. Janney Montgomery Scott LLC now owns 26,402 shares of the financial services provider’s stock worth $921,000 after buying an additional 11,707 shares during the last quarter. Finally, Mycio Wealth Partners LLC bought a new stake in Tortoise Energy Infrastructure Corporation during the first quarter worth about $244,000. 34.49% of the stock is owned by hedge funds and other institutional investors.

Shares of Tortoise Energy Infrastructure Corporation (TYG) traded up 0.92% during midday trading on Friday, hitting $28.61. 140,491 shares of the company were exchanged. Tortoise Energy Infrastructure Corporation has a one year low of $27.40 and a one year high of $37.11. The company’s 50 day moving average price is $29.89 and its 200 day moving average price is $32.30.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 24th will be paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 9.16%. The ex-dividend date is Tuesday, August 22nd.

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Separately, Stifel Nicolaus upgraded shares of Tortoise Energy Infrastructure Corporation from a “hold” rating to a “buy” rating and cut their price objective for the company from $35.00 to $34.00 in a research note on Wednesday, June 28th. They noted that the move was a valuation call.

About Tortoise Energy Infrastructure Corporation

Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.

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

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