Tortoise Energy Infrastructure Co. (NYSE:TYG) Short Interest Up 33.9% in February

Tortoise Energy Infrastructure Co. (NYSE:TYG) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 31,600 shares, a growth of 33.9% from the February 13th total of 23,600 shares. Based on an average daily volume of 104,700 shares, the short-interest ratio is currently 0.3 days. Approximately 0.3% of the company’s stock are short sold.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $41.61, for a total transaction of $235,803.87. Following the completion of the transaction, the insider now owns 1,061,234 shares of the company’s stock, valued at approximately $44,157,946.74. This represents a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the completion of the transaction, the insider now directly owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TYG. Hartford Financial Management Inc. grew its stake in shares of 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 worth $34,000 after buying an additional 219 shares during the last quarter. Comerica Bank grew its holdings in Tortoise Energy Infrastructure by 95.0% in the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 459 shares during the period. JPMorgan Chase & Co. bought a new position in Tortoise Energy Infrastructure in the fourth quarter worth approximately $25,000. Jaffetilchin Investment Partners LLC raised its holdings in Tortoise Energy Infrastructure by 13.3% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 5,239 shares of the financial services provider’s stock worth $220,000 after buying an additional 613 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Tortoise Energy Infrastructure by 6.0% in the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 661 shares in the last quarter. Institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Trading Up 3.2 %

NYSE TYG traded up $1.31 during trading on Friday, hitting $42.56. The stock had a trading volume of 83,607 shares, compared to its average volume of 54,705. The company’s 50-day moving average price is $44.44 and its two-hundred day moving average price is $42.25. Tortoise Energy Infrastructure has a 12 month low of $29.20 and a 12 month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 23rd will be issued a dividend of $0.365 per share. The ex-dividend date is Friday, May 23rd. This represents a yield of 8.4%.

About Tortoise Energy Infrastructure

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.