Short Interest in Tortoise Energy Infrastructure Co. (NYSE:TYG) Declines By 45.1%

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the target of a significant decrease in short interest in 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 daily trading volume, of 91,100 shares, the short-interest ratio is presently 0.3 days.

Insider Activity at Tortoise Energy Infrastructure

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

Institutional Trading of Tortoise Energy Infrastructure

Several hedge funds have recently added to or reduced their stakes in the business. Saba Capital Management L.P. increased its holdings in shares of Tortoise Energy Infrastructure by 118.8% in the fourth quarter. Saba Capital Management L.P. now owns 1,048,879 shares of the financial services provider’s stock worth $44,053,000 after acquiring an additional 569,441 shares in the last quarter. Almitas Capital LLC bought a new stake in Tortoise Energy Infrastructure during the 4th quarter worth approximately $10,444,000. Wells Fargo & Company MN raised its holdings in Tortoise Energy Infrastructure by 1,713.7% during the 4th quarter. Wells Fargo & Company MN now owns 222,159 shares of the financial services provider’s stock worth $9,331,000 after buying an additional 209,910 shares during the period. Bulldog Investors LLP acquired a new stake in Tortoise Energy Infrastructure during the 4th quarter worth approximately $7,997,000. Finally, Raymond James Financial Inc. bought a new position in Tortoise Energy Infrastructure in the fourth quarter valued at approximately $7,158,000. Institutional investors and hedge funds own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Performance

Shares of NYSE TYG opened at $43.28 on Friday. The firm has a 50 day moving average price of $44.62 and a 200 day moving average price of $41.79. Tortoise Energy Infrastructure has a 52-week low of $29.07 and a 52-week high of $48.76.

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 given a $0.365 dividend. This represents a dividend yield of 8.4%. The ex-dividend date is Friday, May 23rd.

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.