Insider Selling: Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Sells 9,211 Shares of Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 9,211 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $42.46, for a total transaction of $391,099.06. Following the completion of the transaction, the insider now directly owns 1,066,901 shares in the company, valued at $45,300,616.46. This represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, December 30th, Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock. The stock was sold at an average price of $41.61, for a total value of $235,803.87.

Tortoise Energy Infrastructure Price Performance

NYSE TYG traded up $0.15 during trading hours on Tuesday, hitting $42.12. The company had a trading volume of 51,588 shares, compared to its average volume of 39,495. 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 simple moving average of $42.86 and a 200-day simple moving average of $38.75.

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 paid a dividend of $0.365 per share. This represents a yield of 7.4%. The ex-dividend date of this dividend is Friday, February 21st.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several large investors have recently made changes to their positions in the company. Raymond James & Associates increased 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 acquiring an additional 66,104 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in 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 worth $3,005,000 after purchasing an additional 65,695 shares during the period. Advisors Asset Management Inc. grew its position in Tortoise Energy Infrastructure by 12.9% in 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 buying an additional 28,661 shares in 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 acquiring an additional 19,644 shares during the period. Finally, Bayshore Asset Management LLC acquired a new position in shares of Tortoise Energy Infrastructure during the 3rd quarter valued at $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.