Insider Selling: Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Sells $391,099.06 in Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 9,211 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $42.46, for a total value of $391,099.06. Following the completion of the sale, the insider now owns 1,066,901 shares in the company, valued at $45,300,616.46. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 Stock Up 0.1 %

Shares of Tortoise Energy Infrastructure stock opened at $42.03 on Friday. Tortoise Energy Infrastructure Co. has a 1 year low of $28.01 and a 1 year high of $46.35. The business has a fifty day simple moving average of $42.94 and a two-hundred day simple moving average of $38.86.

Tortoise Energy Infrastructure Announces Dividend

The business also recently announced a — dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be issued a dividend of $0.365 per share. This represents a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, February 21st.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 27.9% during the second quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 640 shares during the period. D.A. Davidson & CO. boosted its stake in Tortoise Energy Infrastructure by 6.0% in the 3rd 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 during the period. Carmichael Hill & Associates Inc. boosted its stake in Tortoise Energy Infrastructure by 9.4% in the 2nd quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock valued at $277,000 after purchasing an additional 682 shares during the period. Eagle Bluffs Wealth Management LLC grew its holdings in Tortoise Energy Infrastructure by 0.8% in the 3rd quarter. Eagle Bluffs Wealth Management LLC now owns 105,903 shares of the financial services provider’s stock valued at $4,157,000 after buying an additional 865 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Tortoise Energy Infrastructure by 7.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 22,708 shares of the financial services provider’s stock worth $891,000 after buying an additional 1,660 shares during the period. 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.