Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Sells $235,803.87 in Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 5,667 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the transaction, the insider now owns 1,061,234 shares in the company, valued at approximately $44,157,946.74. This trade represents a 0.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, December 27th, Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock. The shares were sold at an average price of $42.46, for a total value of $391,099.06.

Tortoise Energy Infrastructure Price Performance

Shares of Tortoise Energy Infrastructure stock traded up $0.15 during trading hours on Tuesday, reaching $42.12. 51,588 shares of the company’s stock were exchanged, compared to its average volume of 39,495. The business has a fifty day moving average of $42.86 and a two-hundred day moving average of $38.75. Tortoise Energy Infrastructure Co. has a 1 year low of $28.01 and a 1 year high of $46.35.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a — dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be paid a $0.365 dividend. This represents a yield of 7.4%. The ex-dividend date is Friday, February 21st.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

A number of large investors have recently made changes to their positions in TYG. Sanctuary Advisors LLC raised its holdings in shares of Tortoise Energy Infrastructure by 58.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider’s stock worth $838,000 after acquiring an additional 7,891 shares during the period. Stifel Financial Corp grew its stake in shares of Tortoise Energy Infrastructure by 7.7% in the 3rd quarter. Stifel Financial Corp now owns 38,483 shares of the financial services provider’s stock valued at $1,510,000 after buying an additional 2,758 shares during the period. De Lisle Partners LLP increased its holdings in shares of Tortoise Energy Infrastructure by 42.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider’s stock worth $2,593,000 after buying an additional 19,644 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Tortoise Energy Infrastructure by 6.0% in the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock valued at $457,000 after acquiring an additional 661 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its position in Tortoise Energy Infrastructure by 12.9% in the third quarter. Advisors Asset Management Inc. now owns 251,075 shares of the financial services provider’s stock worth $9,855,000 after acquiring an additional 28,661 shares during the period. 32.50% of the stock is currently owned by hedge funds and other 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.