Tortoise Energy Infrastructure Co. (NYSE:TYG) Short Interest Update

Tortoise Energy Infrastructure Co. (NYSE:TYG) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 31,600 shares, an increase of 33.9% from the February 13th total of 23,600 shares. Based on an average daily volume of 104,700 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.3% of the company’s stock are sold short.

Tortoise Energy Infrastructure Trading Up 0.0 %

Shares of NYSE:TYG traded up $0.01 during trading on Tuesday, hitting $43.57. The stock had a trading volume of 36,283 shares, compared to its average volume of 54,929. Tortoise Energy Infrastructure has a 12-month low of $29.20 and a 12-month high of $48.76. The stock has a 50-day simple moving average of $44.44 and a two-hundred day simple moving average of $42.25.

Tortoise Energy Infrastructure Announces Dividend

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

Insider Activity at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the insider now owns 1,500,000 shares in the company, valued at $15,000,000. This represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction dated 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 sale, the insider now owns 1,061,234 shares of the company’s stock, valued at approximately $44,157,946.74. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TYG. Janney Montgomery Scott LLC raised its stake in shares of Tortoise Energy Infrastructure by 7.9% in the third quarter. Janney Montgomery Scott LLC now owns 22,708 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 1,660 shares during the last quarter. Bard Associates Inc. purchased a new position in Tortoise Energy Infrastructure during the third quarter valued at approximately $356,000. Advisors Asset Management Inc. raised its position in Tortoise Energy Infrastructure by 12.9% during the third quarter. Advisors Asset Management Inc. now owns 251,075 shares of the financial services provider’s stock valued at $9,855,000 after acquiring an additional 28,661 shares in the last quarter. D.A. Davidson & CO. raised its position in Tortoise Energy Infrastructure by 6.0% during 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 in the last quarter. Finally, De Lisle Partners LLP raised its position in Tortoise Energy Infrastructure by 42.3% during the third quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider’s stock valued at $2,593,000 after acquiring an additional 19,644 shares in the last quarter. 32.50% of the stock is currently owned by hedge funds and other institutional investors.

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.