First Allied Advisory Services Inc. Reduces Holdings in Tortoise Energy Infrastructure Corporation (TYG)

First Allied Advisory Services Inc. reduced its position in Tortoise Energy Infrastructure Corporation (NYSE:TYG) by 39.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,911 shares of the financial services provider’s stock after selling 5,219 shares during the period. First Allied Advisory Services Inc.’s holdings in Tortoise Energy Infrastructure Corporation were worth $240,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TYG. Morgan Stanley increased its holdings in shares of Tortoise Energy Infrastructure Corporation by 21.5% during the 1st quarter. Morgan Stanley now owns 1,620,344 shares of the financial services provider’s stock valued at $56,534,000 after acquiring an additional 286,445 shares during the last quarter. Uniplan Investment Counsel Inc. increased its holdings in shares of Tortoise Energy Infrastructure Corporation by 9.2% during the 2nd quarter. Uniplan Investment Counsel Inc. now owns 929,294 shares of the financial services provider’s stock valued at $28,241,000 after acquiring an additional 78,354 shares during the last quarter. UMB Bank N A MO increased its holdings in shares of Tortoise Energy Infrastructure Corporation by 7.2% during the 2nd quarter. UMB Bank N A MO now owns 535,566 shares of the financial services provider’s stock valued at $16,276,000 after acquiring an additional 35,901 shares during the last quarter. LVM Capital Management Ltd. MI increased its holdings in shares of Tortoise Energy Infrastructure Corporation by 5.0% during the 2nd quarter. LVM Capital Management Ltd. MI now owns 360,434 shares of the financial services provider’s stock valued at $10,954,000 after acquiring an additional 17,144 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Tortoise Energy Infrastructure Corporation by 4.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 323,639 shares of the financial services provider’s stock valued at $9,835,000 after acquiring an additional 12,454 shares during the last quarter. 30.45% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Corporation (NYSE:TYG) opened at 29.55 on Thursday. Tortoise Energy Infrastructure Corporation has a one year low of $26.93 and a one year high of $37.11. The stock’s 50 day moving average price is $28.64 and its 200-day moving average price is $30.86.

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In related news, major shareholder Prudential Financial Inc bought 25,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were acquired at an average price of $11,560,000.00 per share, for a total transaction of $289,000,000,000,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

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

Tortoise Energy Infrastructure Corporation Profile

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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