Insider Selling: Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Sells 5,667 Shares of Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 5,667 shares of the business’s 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, December 27th, Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock. The shares were sold at an average price of $42.46, for a total value of $391,099.06.

Tortoise Energy Infrastructure Trading Up 0.4 %

Shares of NYSE TYG traded up $0.15 during trading on Tuesday, reaching $42.12. The stock had a trading volume of 51,588 shares, compared to its average volume of 39,495. The business’s 50-day moving average price is $42.86 and its 200-day moving average price is $38.75. Tortoise Energy Infrastructure Co. has a fifty-two week low of $28.01 and a fifty-two week high of $46.35.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be paid a $0.365 dividend. This represents a dividend yield of 7.4%. The ex-dividend date is Friday, February 21st.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several large investors have recently added to or reduced their stakes in TYG. Raymond James & Associates boosted its position in Tortoise Energy Infrastructure by 679.7% in the 3rd quarter. Raymond James & Associates now owns 75,830 shares of the financial services provider’s stock valued at $2,976,000 after buying an additional 66,104 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Tortoise Energy Infrastructure by 604.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 76,567 shares of the financial services provider’s stock valued at $3,005,000 after purchasing an additional 65,695 shares during the period. Advisors Asset Management Inc. grew its stake in Tortoise Energy Infrastructure by 12.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 251,075 shares of the financial services provider’s stock worth $9,855,000 after purchasing an additional 28,661 shares in the last quarter. De Lisle Partners LLP increased its holdings in Tortoise Energy Infrastructure by 42.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider’s stock worth $2,593,000 after purchasing an additional 19,644 shares during the period. Finally, Bayshore Asset Management LLC acquired a new stake in Tortoise Energy Infrastructure in the 3rd quarter valued at about $688,000. 32.50% of the stock is owned by hedge funds and other institutional investors.

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.