Prudential Financial Inc Buys 1,500,000 Shares of Tortoise Energy Infrastructure (NYSE:TYG) Stock

Tortoise Energy Infrastructure Corporation (NYSE:TYG) major shareholder Prudential Financial Inc bought 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the insider owned 1,500,000 shares in the company, valued at approximately $15,000,000. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Tortoise Energy Infrastructure Price Performance

TYG opened at $42.92 on Thursday. The business’s 50-day moving average price is $43.00 and its two-hundred day moving average price is $41.93. Tortoise Energy Infrastructure Corporation has a 1 year low of $33.73 and a 1 year high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd will be given a $0.365 dividend. This represents a c) dividend on an annualized basis and a yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 23rd.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Several hedge funds have recently made changes to their positions in the business. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $785,000. Spire Wealth Management increased its stake in Tortoise Energy Infrastructure by 68.9% in the 1st quarter. Spire Wealth Management now owns 1,611 shares of the financial services provider’s stock valued at $69,000 after buying an additional 657 shares during the last quarter. Bank of America Corp DE increased its stake in Tortoise Energy Infrastructure by 56.1% in the 4th quarter. Bank of America Corp DE now owns 61,617 shares of the financial services provider’s stock valued at $2,588,000 after buying an additional 22,156 shares during the last quarter. Fiduciary Alliance LLC bought a new stake in Tortoise Energy Infrastructure during the 1st quarter worth about $321,000. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Tortoise Energy Infrastructure by 1.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 105,434 shares of the financial services provider’s stock worth $4,539,000 after buying an additional 1,634 shares during the last quarter. 32.50% of the stock is owned by 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.