Tortoise Energy Infrastructure Co. (NYSE:TYG) Short Interest Up 33.9% in February

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

Tortoise Energy Infrastructure Stock Performance

Shares of TYG traded up $1.31 during mid-day trading on Friday, reaching $42.56. 83,607 shares of the company’s stock were exchanged, compared to its average volume of 54,705. The business’s fifty day simple moving average is $44.44 and its 200-day simple moving average is $42.25. Tortoise Energy Infrastructure has a 52-week low of $29.20 and a 52-week high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.365 per share. This represents a yield of 8.4%. The ex-dividend date is Friday, May 23rd.

Insider Transactions at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $42.46, for a total value of $391,099.06. Following the completion of the transaction, the insider now owns 1,066,901 shares in the company, valued at $45,300,616.46. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the company’s stock in a transaction on 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 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. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new position in Tortoise Energy Infrastructure during the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new stake in Tortoise Energy Infrastructure during the 4th quarter worth $30,000. Hartford Financial Management Inc. grew its stake in shares of 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. Comerica Bank increased its holdings in Tortoise Energy Infrastructure by 95.0% in the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider’s stock valued at $40,000 after buying an additional 459 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Tortoise Energy Infrastructure during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 32.50% of the company’s stock.

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.