Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Sells $235,803.87 in Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) 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 value of $235,803.87. Following the completion of the sale, the insider now owns 1,061,234 shares of the company’s stock, valued at $44,157,946.74. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own more than 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 stock was sold at an average price of $42.46, for a total transaction of $391,099.06.

Tortoise Energy Infrastructure Stock Performance

Shares of Tortoise Energy Infrastructure stock opened at $42.03 on Friday. Tortoise Energy Infrastructure Co. has a twelve month low of $28.01 and a twelve month high of $46.35. The company’s 50 day moving average is $42.94 and its 200 day moving average is $38.86.

Tortoise Energy Infrastructure Dividend Announcement

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

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates increased its position in 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 valued at $2,976,000 after acquiring an additional 66,104 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Tortoise Energy Infrastructure by 604.3% during the 3rd 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. increased its position in shares of 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 valued at $9,855,000 after purchasing an additional 28,661 shares during the last quarter. De Lisle Partners LLP lifted its stake in shares of Tortoise Energy Infrastructure by 42.3% in 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 purchased a new position in shares of Tortoise Energy Infrastructure in the third quarter worth approximately $688,000. 32.50% of the stock is currently owned by hedge funds and other 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.