Tortoise Energy Infrastructure Co. (NYSE:TYG) Short Interest Down 45.1% in February

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the recipient of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 23,600 shares, a decrease of 45.1% from the January 31st total of 43,000 shares. Based on an average trading volume of 91,100 shares, the days-to-cover ratio is presently 0.3 days.

Insider Buying and Selling at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the insider now owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $42.46, for a total transaction of $391,099.06. Following the completion of the transaction, the insider now directly owns 1,066,901 shares of the company’s stock, valued at $45,300,616.46. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Institutional Trading of Tortoise Energy Infrastructure

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in Tortoise Energy Infrastructure in the 4th quarter worth about $25,000. Noble Wealth Management PBC acquired a new position in Tortoise Energy Infrastructure during the 4th quarter worth $30,000. Hartford Financial Management Inc. grew its stake in shares of Tortoise Energy Infrastructure by 37.5% in the fourth quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 219 shares in the last quarter. Comerica Bank raised its stake in shares of Tortoise Energy Infrastructure by 95.0% during the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 459 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Tortoise Energy Infrastructure in the fourth quarter worth about $46,000. 32.50% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Stock Down 0.3 %

NYSE:TYG opened at $43.21 on Tuesday. Tortoise Energy Infrastructure has a 52 week low of $29.11 and a 52 week high of $48.76. The stock has a 50 day moving average of $44.62 and a 200-day moving average of $41.88.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 23rd will be issued a $0.365 dividend. The ex-dividend date is Friday, May 23rd. This represents a dividend yield of 8.4%.

Tortoise Energy Infrastructure Company Profile

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.