Saba Capital Management L.P. Cuts Stock Position in Kayne Anderson Energy Infrastructure Fund, Inc. $KYN

Saba Capital Management L.P. lessened its holdings in Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN) by 90.9% in the first quarter, Holdings Channel reports. The firm owned 12,648 shares of the financial services provider’s stock after selling 126,596 shares during the period. Saba Capital Management L.P.’s holdings in Kayne Anderson Energy Infrastructure Fund were worth $181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Morgan Stanley increased its position in shares of Kayne Anderson Energy Infrastructure Fund by 1.3% during the 4th quarter. Morgan Stanley now owns 10,143,636 shares of the financial services provider’s stock valued at $125,578,000 after purchasing an additional 131,366 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Kayne Anderson Energy Infrastructure Fund by 5.8% in the 2nd quarter. Bank of America Corp DE now owns 4,667,222 shares of the financial services provider’s stock worth $59,367,000 after buying an additional 256,721 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Kayne Anderson Energy Infrastructure Fund by 7.3% in the 4th quarter. Wells Fargo & Company MN now owns 2,985,262 shares of the financial services provider’s stock worth $36,958,000 after buying an additional 203,027 shares during the last quarter. Brown Advisory Inc. bought a new position in Kayne Anderson Energy Infrastructure Fund during the fourth quarter valued at about $33,366,000. Finally, Advisors Asset Management Inc. grew its position in Kayne Anderson Energy Infrastructure Fund by 2.3% during the fourth quarter. Advisors Asset Management Inc. now owns 1,842,657 shares of the financial services provider’s stock valued at $22,812,000 after buying an additional 40,966 shares during the period.

Kayne Anderson Energy Infrastructure Fund Stock Performance

NYSE KYN opened at $14.37 on Wednesday. Kayne Anderson Energy Infrastructure Fund, Inc. has a 52-week low of $11.31 and a 52-week high of $15.17. The company has a 50-day simple moving average of $14.06 and a 200 day simple moving average of $13.78.

Kayne Anderson Energy Infrastructure Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.09 per share. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Wednesday, July 15th. This is an increase from Kayne Anderson Energy Infrastructure Fund’s previous monthly dividend of $0.09.

Insider Transactions at Kayne Anderson Energy Infrastructure Fund

In related news, CFO Austin Colby Parker purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average price of $13.99 per share, with a total value of $34,975.00. Following the acquisition, the chief financial officer owned 14,623 shares of the company’s stock, valued at $204,575.77. This trade represents a 20.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Holli C. Ladhani purchased 3,621 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $13.81 per share, for a total transaction of $50,006.01. Following the acquisition, the director directly owned 7,221 shares in the company, valued at $99,722.01. This trade represents a 100.58% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 26,121 shares of company stock worth $356,531 in the last quarter.

Kayne Anderson Energy Infrastructure Fund Profile

The Kayne Anderson Energy Infrastructure Fund, Inc (NYSE: KYN) is a closed-end management investment company that focuses on energy infrastructure assets. The fund’s portfolio is primarily composed of equity securities of publicly traded partnerships—including master limited partnerships (MLPs)—and other energy-related companies. Key sectors in its midstream-oriented strategy include the transportation, storage, processing and distribution of natural gas, crude oil and refined products.

Since commencing operations in 2014, Kayne Anderson Energy Infrastructure Fund has pursued a dual objective of current income generation and long-term capital appreciation.