Robinson Capital Management LLC Invests $732,000 in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Robinson Capital Management LLC purchased a new position in Tortoise Energy Infrastructure Co. (NYSE:TYG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,437 shares of the financial services provider’s stock, valued at approximately $732,000. Robinson Capital Management LLC owned approximately 0.16% of Tortoise Energy Infrastructure as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kercheville Advisors LLC bought a new position in Tortoise Energy Infrastructure during the 4th quarter valued at about $480,000. Financial Advocates Investment Management lifted its position in shares of Tortoise Energy Infrastructure by 337.1% during the fourth quarter. Financial Advocates Investment Management now owns 31,059 shares of the financial services provider’s stock valued at $1,304,000 after buying an additional 23,953 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Tortoise Energy Infrastructure by 58.6% in the third quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider’s stock worth $838,000 after purchasing an additional 7,891 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Tortoise Energy Infrastructure by 39.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,715 shares of the financial services provider’s stock valued at $1,332,000 after buying an additional 9,007 shares in the last quarter. Finally, Catalina Capital Group LLC purchased a new position in shares of Tortoise Energy Infrastructure in the 4th quarter valued at approximately $266,000. 32.50% of the stock is owned by institutional investors.

Tortoise Energy Infrastructure Stock Up 1.2 %

TYG stock opened at $45.44 on Tuesday. The firm’s fifty day simple moving average is $44.32 and its 200-day simple moving average is $41.28. Tortoise Energy Infrastructure Co. has a 12 month low of $28.91 and a 12 month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

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 is Friday, February 21st.

Insider Transactions at Tortoise Energy Infrastructure

In other news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the completion of the purchase, the insider now directly owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on 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 transaction, the insider now owns 1,061,234 shares of the company’s stock, valued at $44,157,946.74. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.28% 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.