Tortoise Energy Infrastructure (NYSE:TYG) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Tortoise Energy Infrastructure Co. (NYSE:TYG)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $40.35 and traded as high as $45.27. Tortoise Energy Infrastructure shares last traded at $44.71, with a volume of 107,322 shares.

Tortoise Energy Infrastructure Price Performance

The company’s 50-day simple moving average is $44.30 and its 200 day simple moving average is $40.35.

Tortoise Energy Infrastructure Announces Dividend

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

Insiders Place Their Bets

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider now directly owns 1,500,000 shares in the company, 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 the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $41.61, for a total transaction of $235,803.87. Following the sale, the insider now owns 1,061,234 shares of the company’s stock, valued at $44,157,946.74. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in shares of Tortoise Energy Infrastructure by 12.9% during the 3rd 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 in the last quarter. Eagle Bluffs Wealth Management LLC grew its holdings in shares of Tortoise Energy Infrastructure by 0.8% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 105,903 shares of the financial services provider’s stock worth $4,157,000 after buying an additional 865 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Tortoise Energy Infrastructure by 604.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 76,567 shares of the financial services provider’s stock valued at $3,005,000 after acquiring an additional 65,695 shares during the last quarter. Raymond James & Associates increased its stake in Tortoise Energy Infrastructure by 679.7% in the third quarter. Raymond James & Associates now owns 75,830 shares of the financial services provider’s stock valued at $2,976,000 after purchasing an additional 66,104 shares during the last quarter. Finally, De Lisle Partners LLP lifted 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 acquiring an additional 19,644 shares during the period. 32.50% of the stock is 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.