Tortoise Energy Infrastructure Co. (NYSE:TYG) Announces $0.37 Monthly Dividend

Tortoise Energy Infrastructure Co. (NYSE:TYG) declared a monthly dividend on Thursday, February 20th, NASDAQ Dividends reports. Shareholders of record on Monday, March 24th will be paid a dividend of 0.365 per share by the financial services provider on Monday, March 31st. This represents a $4.38 dividend on an annualized basis and a yield of 9.74%. The ex-dividend date of this dividend is Monday, March 24th.

Tortoise Energy Infrastructure Price Performance

TYG stock traded down $0.66 during midday trading on Friday, reaching $44.95. The company’s stock had a trading volume of 110,302 shares, compared to its average volume of 108,140. Tortoise Energy Infrastructure has a 52 week low of $28.91 and a 52 week high of $48.76. The business’s 50-day simple moving average is $44.49 and its 200-day simple moving average is $41.51.

Insider Buying and Selling at Tortoise Energy Infrastructure

In other news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction dated 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 transaction, the insider now directly owns 1,500,000 shares in the company, valued at $15,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock in a transaction on Friday, December 27th. The stock was sold at an average price of $42.46, for a total transaction of $391,099.06. Following the transaction, the insider now directly owns 1,066,901 shares in the company, valued at approximately $45,300,616.46. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.28% 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.