Tortoise Energy Infrastructure Co. (NYSE:TYG) Sees Significant Increase in Short Interest

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 43,000 shares, an increase of 120.5% from the January 15th total of 19,500 shares. Based on an average daily trading volume, of 83,100 shares, the days-to-cover ratio is presently 0.5 days.

Tortoise Energy Infrastructure Stock Up 1.1 %

NYSE TYG traded up $0.51 during trading on Thursday, reaching $44.65. 30,653 shares of the company traded hands, compared to its average volume of 130,780. Tortoise Energy Infrastructure has a 1-year low of $28.87 and a 1-year high of $48.76. The stock’s 50 day moving average price is $44.31 and its two-hundred day moving average price is $41.03.

Tortoise Energy Infrastructure Dividend Announcement

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

Insider Buying and Selling

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc acquired 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $10.00 per share, with a total value 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $41.61, for a total transaction of $235,803.87. Following the completion of the sale, the insider now directly owns 1,061,234 shares in the company, valued at approximately $44,157,946.74. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in Tortoise Energy Infrastructure in the fourth quarter valued at about $30,000. Hartford Financial Management Inc. boosted its position in Tortoise Energy Infrastructure by 37.5% in the fourth quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock valued at $34,000 after buying an additional 219 shares in the last quarter. Principal Securities Inc. bought a new stake in Tortoise Energy Infrastructure during the fourth quarter worth about $46,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Tortoise Energy Infrastructure during the third quarter worth approximately $82,000. 32.50% of the stock is currently owned by institutional investors and hedge funds.

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.