When a company such as Tortoise Energy Infrastructure Fund conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the TYG split history from start to finish, an original position size of 1000 shares would have turned into 250 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Tortoise Energy Infrastructure Fund shares, starting with a $10,000 purchase of TYG, presented on a split-history-adjusted basis factoring in the complete TYG split history.

About Tortoise Energy Infrastructure Fund

Tortoise Energy Infrastructure is a closed-end management investment company. The Fund's investment objective is to seek high total return with an emphasis on current distributions. According to our TYG split history records, Tortoise Energy Infrastructure Fund has had 1 split.

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