Tortoise Energy Infrastructure (NYSE:TYG) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $39.16 and traded as high as $44.47. Tortoise Energy Infrastructure shares last traded at $43.86, with a volume of 137,815 shares traded.

Tortoise Energy Infrastructure Price Performance

The business’s 50-day moving average is $43.20 and its two-hundred day moving average is $39.19.

Tortoise Energy Infrastructure Announces Dividend

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

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock in a transaction dated Monday, December 30th. The stock was 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 in the company, valued at approximately $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. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Wednesday, December 18th. The shares were acquired 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 directly owns 1,500,000 shares in the company, valued at $15,000,000. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.