Absolute Investment Advisers LLC Makes New $214,000 Investment in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Absolute Investment Advisers LLC purchased a new stake in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,086 shares of the financial services provider’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hartford Financial Management Inc. lifted its position in Tortoise Energy Infrastructure by 37.5% during the fourth quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 219 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Tortoise Energy Infrastructure during the 3rd quarter worth $82,000. Eastern Bank purchased a new position in Tortoise Energy Infrastructure in the fourth quarter worth $124,000. First National Bank of Mount Dora Trust Investment Services bought a new position in Tortoise Energy Infrastructure in the fourth quarter valued at $205,000. Finally, LongView Wealth Management purchased a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at about $294,000. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Trading Down 0.6 %

TYG opened at $45.08 on Monday. The stock has a 50-day moving average price of $44.30 and a 200-day moving average price of $40.52. Tortoise Energy Infrastructure Co. has a 12-month low of $28.43 and a 12-month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

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

Insider Buying and Selling at Tortoise Energy Infrastructure

In related news, major shareholder Prudential Financial Inc acquired 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the insider now owns 1,500,000 shares of the company’s stock, valued at $15,000,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $42.46, for a total value of $391,099.06. Following the completion of the sale, the insider now directly owns 1,066,901 shares of the company’s stock, valued at approximately $45,300,616.46. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure 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.