Short Interest in Tortoise Energy Infrastructure Co. (NYSE:TYG) Expands By 33.9%

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the target of a significant increase in short interest during the month of 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. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 104,700 shares, the days-to-cover ratio is presently 0.3 days.

Insider Buying and Selling

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the transaction, the insider now directly owns 1,500,000 shares in the company, valued at $15,000,000. This trade represents a ∞ increase in their position. The transaction 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 business’s 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 completion of the transaction, the insider now directly owns 1,061,234 shares in the company, valued at $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 Trading of Tortoise Energy Infrastructure

Large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Tortoise Energy Infrastructure by 35.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 103,800 shares of the financial services provider’s stock valued at $4,360,000 after buying an additional 27,233 shares during the last quarter. WNY Asset Management LLC lifted its holdings in Tortoise Energy Infrastructure by 6.8% during the fourth quarter. WNY Asset Management LLC now owns 21,090 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 1,348 shares during the last quarter. Cornerstone Advisory LLC bought a new position in Tortoise Energy Infrastructure during the fourth quarter worth about $448,000. Focus Partners Advisor Solutions LLC bought a new position in Tortoise Energy Infrastructure during the fourth quarter worth about $785,000. Finally, CSS LLC IL purchased a new position in shares of Tortoise Energy Infrastructure in the fourth quarter worth about $480,000. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Performance

TYG stock traded up $1.03 during mid-day trading on Monday, hitting $43.62. The company had a trading volume of 129,151 shares, compared to its average volume of 55,003. Tortoise Energy Infrastructure has a 12 month low of $29.20 and a 12 month high of $48.76. The stock’s fifty day moving average price is $44.44 and its two-hundred day moving average price is $42.25.

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 paid a $0.365 dividend. The ex-dividend date is Friday, May 23rd. This represents a 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.