Short Interest in Tortoise Energy Infrastructure Co. (NYSE:TYG) Increases By 833.3%

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 14,000 shares, a growth of 833.3% from the November 30th total of 1,500 shares. Based on an average trading volume of 33,000 shares, the short-interest ratio is presently 0.4 days.

Tortoise Energy Infrastructure Trading Down 1.7 %

TYG traded down $0.72 during midday trading on Thursday, hitting $42.53. The company had a trading volume of 110,277 shares, compared to its average volume of 39,087. The stock’s 50 day moving average price is $42.78 and its 200 day moving average price is $38.52. Tortoise Energy Infrastructure has a 52 week low of $28.01 and a 52 week high of $46.35.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently disclosed 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 dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, February 21st.

Insider Buying and Selling

In related news, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were bought 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 directly owns 1,500,000 shares in the company, valued at $15,000,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in TYG. Raymond James & Associates raised its position in Tortoise Energy Infrastructure by 679.7% in the 3rd quarter. Raymond James & Associates now owns 75,830 shares of the financial services provider’s stock valued at $2,976,000 after buying an additional 66,104 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tortoise Energy Infrastructure by 604.3% in the third 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 last quarter. Advisors Asset Management Inc. lifted its position in shares of Tortoise Energy Infrastructure by 12.9% during 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 purchasing an additional 28,661 shares in the last quarter. De Lisle Partners LLP boosted its holdings in Tortoise Energy Infrastructure by 42.3% during the third 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 last quarter. Finally, Bayshore Asset Management LLC bought a new stake in Tortoise Energy Infrastructure in the 3rd quarter worth about $688,000. Institutional investors and hedge funds own 32.50% of the company’s stock.

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.