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

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a monthly dividend on Thursday, February 20th, NASDAQ Dividends reports. Investors 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 NYSE:TYG traded down $0.66 during midday trading on Friday, reaching $44.95. 110,302 shares of the company were exchanged, compared to its average volume of 108,140. Tortoise Energy Infrastructure has a fifty-two week low of $28.91 and a fifty-two week high of $48.76. The stock has a fifty day simple moving average of $44.49 and a two-hundred day simple moving average of $41.51.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 1,061,234 shares in the company, valued at $44,157,946.74. This trade represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the insider now 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 disclosure for this purchase can be found here. 0.28% of the stock is currently owned by company insiders.

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.