Tortoise Energy Infrastructure Co. (NYSE:TYG) Declares $0.37 Monthly Dividend

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a monthly dividend on Thursday, February 20th, NASDAQ Dividends reports. Stockholders of record on Monday, March 24th will be paid a dividend of 0.365 per share by the financial services provider on Monday, March 31st. This represents a $4.38 dividend on an annualized basis and a dividend yield of 9.74%. The ex-dividend date is Monday, March 24th.

Tortoise Energy Infrastructure Trading Down 1.4 %

Shares of TYG traded down $0.66 during trading hours on Friday, reaching $44.95. 110,302 shares of the company traded hands, compared to its average volume of 108,140. The company’s fifty day moving average price is $44.49 and its two-hundred day moving average price is $41.51. Tortoise Energy Infrastructure has a 12 month low of $28.91 and a 12 month high of $48.76.

Insider Activity

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 that occurred 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 directly 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 document filed with the SEC, which is available through this hyperlink. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider now owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.28% 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.