Janney Montgomery Scott LLC Acquires 9,007 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG)

Janney Montgomery Scott LLC raised its holdings in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) by 39.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,715 shares of the financial services provider’s stock after purchasing an additional 9,007 shares during the quarter. Janney Montgomery Scott LLC owned 0.29% of Tortoise Energy Infrastructure worth $1,332,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Tortoise Energy Infrastructure during the third quarter valued at about $82,000. Eastern Bank purchased a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at approximately $124,000. First National Bank of Mount Dora Trust Investment Services acquired a new stake in Tortoise Energy Infrastructure in the fourth quarter valued at approximately $205,000. LongView Wealth Management purchased a new position in Tortoise Energy Infrastructure in the fourth quarter worth $294,000. Finally, Bard Associates Inc. acquired a new position in shares of Tortoise Energy Infrastructure during the third quarter worth $356,000. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG stock opened at $45.58 on Wednesday. The stock’s fifty day moving average price is $44.33 and its 200 day moving average price is $40.66. Tortoise Energy Infrastructure Co. has a 1-year low of $28.43 and a 1-year high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

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

Insiders Place Their Bets

In related 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 shares were purchased at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the purchase, the insider now owns 1,500,000 shares of the company’s stock, valued at $15,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction 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 directly owns 1,061,234 shares of the company’s stock, valued at approximately $44,157,946.74. This 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 currently owned by insiders.

Tortoise Energy Infrastructure 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.