Tortoise Energy Infrastructure Corporation (NYSE:TYG) Short Interest Down 98.6% in June

Tortoise Energy Infrastructure Corporation (NYSE:TYG) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 23,333 shares, a drop of 98.6% from the June 15th total of 1,707,709 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 237,677 shares, the short-interest ratio is presently 0.1 days.

Insider Buying and Selling

In other news, Director Conrad S. Ciccotello bought 4,107 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $42.24 per share, with a total value of $173,479.68. Following the transaction, the director directly owned 16,225 shares of the company’s stock, valued at approximately $685,344. This represents a 33.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp acquired a new position in shares of Tortoise Energy Infrastructure during the first quarter valued at about $36,000. Parkside Financial Bank & Trust raised its holdings in shares of Tortoise Energy Infrastructure by 42.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 300 shares during the last quarter. Comerica Bank lifted its position in Tortoise Energy Infrastructure by 27.8% in the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 242 shares in the last quarter. Hartford Financial Management Inc. lifted its position in Tortoise Energy Infrastructure by 49.2% in the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 410 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Tortoise Energy Infrastructure by 255.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,892 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 1,360 shares during the last quarter. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Trading Up 0.2%

Tortoise Energy Infrastructure stock traded up $0.08 during mid-day trading on Friday, reaching $43.32. The stock had a trading volume of 181,278 shares, compared to its average volume of 187,931. Tortoise Energy Infrastructure has a fifty-two week low of $40.35 and a fifty-two week high of $51.18. The stock’s 50-day simple moving average is $44.41 and its 200-day simple moving average is $45.74.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a $0.475 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) annualized dividend and a yield of 13.2%.

Tortoise Energy Infrastructure Company Profile

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.