Short Interest in Tortoise Energy Infrastructure Co. (NYSE:TYG) Drops By 45.1%

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the recipient of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 23,600 shares, a decrease of 45.1% from the January 31st total of 43,000 shares. Based on an average daily trading volume, of 91,100 shares, the days-to-cover ratio is presently 0.3 days.

Tortoise Energy Infrastructure Stock Performance

Shares of NYSE:TYG opened at $43.21 on Tuesday. The business has a 50-day moving average of $44.62 and a two-hundred day moving average of $41.88. Tortoise Energy Infrastructure has a 12 month low of $29.11 and a 12 month high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, May 30th. Investors 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 of this dividend is Friday, May 23rd.

Insider Buying and Selling

In related news, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the 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 purchase, the insider now directly owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the stock in a transaction on Friday, December 27th. The stock was 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 trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TYG. Saba Capital Management L.P. lifted its holdings in shares of Tortoise Energy Infrastructure by 118.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,048,879 shares of the financial services provider’s stock valued at $44,053,000 after acquiring an additional 569,441 shares in the last quarter. Almitas Capital LLC purchased a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter worth about $10,444,000. Wells Fargo & Company MN grew its stake in shares of Tortoise Energy Infrastructure by 1,713.7% in the fourth quarter. Wells Fargo & Company MN now owns 222,159 shares of the financial services provider’s stock valued at $9,331,000 after buying an additional 209,910 shares in the last quarter. Bulldog Investors LLP purchased a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $7,997,000. Finally, Raymond James Financial Inc. acquired a new position in Tortoise Energy Infrastructure during the 4th quarter worth approximately $7,158,000. 32.50% of the stock is 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.