Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Prudential Financial Inc Acquires 1,500,000 Shares

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Prudential Financial Inc bought 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider now owns 1,500,000 shares in the company, valued at $15,000,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Tortoise Energy Infrastructure Price Performance

NYSE TYG opened at $42.11 on Friday. Tortoise Energy Infrastructure Co. has a fifty-two week low of $28.01 and a fifty-two week high of $46.35. The business has a fifty day moving average of $42.62 and a 200-day moving average of $38.27.

Tortoise Energy Infrastructure Dividend Announcement

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

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 48.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,872 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 3,561 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Tortoise Energy Infrastructure by 7.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 94,866 shares of the financial services provider’s stock valued at $3,308,000 after buying an additional 6,337 shares during the period. Carmichael Hill & Associates Inc. increased its stake in shares of Tortoise Energy Infrastructure by 9.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 682 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its holdings in shares of Tortoise Energy Infrastructure by 27.9% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 640 shares during the period. Finally, Almitas Capital LLC grew its holdings in Tortoise Energy Infrastructure by 157.6% in the second quarter. Almitas Capital LLC now owns 25,457 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 15,576 shares during the period. 32.50% of the stock is owned by institutional investors and hedge funds.

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.