Tortoise Energy Infrastructure Co. (NYSE:TYG) Short Interest Up 833.3% in December

Tortoise Energy Infrastructure Co. (NYSE:TYG) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 14,000 shares, an increase of 833.3% from the November 30th total of 1,500 shares. Based on an average daily volume of 33,000 shares, the short-interest ratio is presently 0.4 days.

Tortoise Energy Infrastructure Stock Performance

Tortoise Energy Infrastructure stock traded down $0.72 during midday trading on Thursday, reaching $42.53. 110,277 shares of the stock were exchanged, compared to its average volume of 39,087. Tortoise Energy Infrastructure has a 52 week low of $28.01 and a 52 week high of $46.35. The company’s fifty day moving average is $42.78 and its 200-day moving average is $38.52.

Tortoise Energy Infrastructure Dividend Announcement

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

Insider Activity

In related news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the completion of the transaction, the insider now directly owns 1,500,000 shares in the company, valued at approximately $15,000,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several large investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 7.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 94,866 shares of the financial services provider’s stock worth $3,308,000 after purchasing an additional 6,337 shares in the last quarter. Carmichael Hill & Associates Inc. lifted its stake in Tortoise Energy Infrastructure by 9.4% in the second quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 682 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in Tortoise Energy Infrastructure by 27.9% during the second quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock valued at $102,000 after buying an additional 640 shares during the period. Almitas Capital LLC increased its holdings in shares of Tortoise Energy Infrastructure by 157.6% in the second quarter. Almitas Capital LLC now owns 25,457 shares of the financial services provider’s stock worth $888,000 after buying an additional 15,576 shares during the period. Finally, Ariadne Wealth Management LP purchased a new stake in Tortoise Energy Infrastructure during the 2nd quarter valued at about $415,000. Institutional investors own 32.50% of the company’s stock.

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.