6,990 Shares in Tortoise Energy Infrastructure Co. (NYSE:TYG) Purchased by LongView Wealth Management

LongView Wealth Management purchased a new position in Tortoise Energy Infrastructure Co. (NYSE:TYG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,990 shares of the financial services provider’s stock, valued at approximately $294,000.

A number of other large investors have also modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Tortoise Energy Infrastructure in the 3rd quarter worth approximately $82,000. Eastern Bank acquired a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter worth $124,000. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $205,000. Bard Associates Inc. acquired a new stake in Tortoise Energy Infrastructure during the third quarter worth about $356,000. Finally, Diversified Trust Co purchased a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at approximately $482,000. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the transaction, the insider now owns 1,061,234 shares in the company, valued at approximately $44,157,946.74. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the insider now owns 1,500,000 shares in the company, valued at $15,000,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure Trading Up 0.7 %

NYSE TYG opened at $47.13 on Friday. Tortoise Energy Infrastructure Co. has a twelve month low of $28.01 and a twelve month high of $47.58. The stock has a fifty day simple moving average of $43.81 and a 200-day simple moving average of $39.69.

Tortoise Energy Infrastructure Announces Dividend

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

Tortoise Energy Infrastructure 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.