Quadrant Private Wealth Management LLC Decreases Holdings in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Quadrant Private Wealth Management LLC trimmed its holdings in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,472 shares of the financial services provider’s stock after selling 485 shares during the period. Quadrant Private Wealth Management LLC owned 0.17% of Tortoise Energy Infrastructure worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. boosted its position in Tortoise Energy Infrastructure by 37.5% during the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 219 shares during the period. Eastern Bank purchased a new position in Tortoise Energy Infrastructure in the 4th quarter valued at about $124,000. First National Bank of Mount Dora Trust Investment Services purchased a new position in Tortoise Energy Infrastructure in the 4th quarter valued at about $205,000. Absolute Investment Advisers LLC purchased a new position in Tortoise Energy Infrastructure in the 4th quarter valued at about $214,000. Finally, Verity Asset Management Inc. purchased a new position in Tortoise Energy Infrastructure in the 4th quarter valued at about $251,000. 32.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. Also, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the firm’s stock in a transaction dated 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 acquisition, 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 disclosure for this purchase can be found here. 0.28% of the stock is owned by company insiders.

Tortoise Energy Infrastructure Stock Performance

Shares of Tortoise Energy Infrastructure stock opened at $45.44 on Friday. The firm’s 50-day simple moving average is $44.32 and its 200-day simple moving average is $41.13. Tortoise Energy Infrastructure Co. has a 1 year low of $28.91 and a 1 year high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

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

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.