Absolute Investment Advisers LLC Acquires Shares of 5,086 Tortoise Energy Infrastructure Co. (NYSE:TYG)

Absolute Investment Advisers LLC acquired a new position in Tortoise Energy Infrastructure Co. (NYSE:TYG) in the 4th quarter, Holdings Channel reports. The firm acquired 5,086 shares of the financial services provider’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hartford Financial Management Inc. raised its stake in Tortoise Energy Infrastructure by 37.5% in 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 in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Tortoise Energy Infrastructure by 6.0% during the 3rd quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 661 shares during the period. Eagle Bluffs Wealth Management LLC raised its position in shares of 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 worth $4,157,000 after acquiring an additional 865 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in shares of Tortoise Energy Infrastructure by 13.6% in the 4th quarter. DAVENPORT & Co LLC now owns 7,622 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 915 shares during the period. Finally, Bayshore Asset Management LLC boosted its position in shares of Tortoise Energy Infrastructure by 6.6% during the fourth quarter. Bayshore Asset Management LLC now owns 18,679 shares of the financial services provider’s stock valued at $785,000 after purchasing an additional 1,152 shares in the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Down 0.6 %

Shares of TYG stock opened at $45.08 on Monday. The business’s fifty day moving average is $44.30 and its 200 day moving average is $40.52. Tortoise Energy Infrastructure Co. has a twelve month low of $28.43 and a twelve month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

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

Insider Buying and Selling

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

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.