Tortoise Energy Infrastructure Co. (NYSE:TYG) Declares $0.37 — Dividend

Tortoise Energy Infrastructure Co. (NYSE:TYG) declared a — dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Friday, May 23rd will be given a dividend of 0.365 per share by the financial services provider on Friday, May 30th. This represents a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, May 23rd.

Tortoise Energy Infrastructure Stock Performance

Tortoise Energy Infrastructure stock traded down $0.56 during mid-day trading on Monday, hitting $44.44. The company’s stock had a trading volume of 86,093 shares, compared to its average volume of 124,714. The business has a 50 day moving average price of $44.49 and a 200-day moving average price of $41.60. Tortoise Energy Infrastructure has a 12 month low of $28.91 and a 12 month high of $48.76.

Insider Buying and Selling

In other news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the company’s stock in a transaction dated 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 completion of the acquisition, the insider now owns 1,500,000 shares in the company, valued at approximately $15,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $41.61, for a total value of $235,803.87. Following the transaction, the insider now owns 1,061,234 shares in the company, valued at approximately $44,157,946.74. This represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

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.