Financial Advocates Investment Management Purchases 23,953 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG)

Financial Advocates Investment Management grew its holdings in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) by 337.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 31,059 shares of the financial services provider’s stock after buying an additional 23,953 shares during the period. Financial Advocates Investment Management’s holdings in Tortoise Energy Infrastructure were worth $1,304,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sanctuary Advisors LLC lifted its position in Tortoise Energy Infrastructure by 58.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider’s stock valued at $838,000 after acquiring an additional 7,891 shares during the period. Verity Asset Management Inc. bought a new position in shares of Tortoise Energy Infrastructure during the fourth quarter valued at approximately $251,000. Raymond James & Associates lifted its holdings in shares of Tortoise Energy Infrastructure by 679.7% during the third quarter. Raymond James & Associates now owns 75,830 shares of the financial services provider’s stock valued at $2,976,000 after purchasing an additional 66,104 shares during the last quarter. LongView Wealth Management bought a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter worth approximately $294,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Tortoise Energy Infrastructure by 604.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 76,567 shares of the financial services provider’s stock worth $3,005,000 after buying an additional 65,695 shares during the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Down 1.9 %

TYG stock opened at $45.39 on Friday. The business has a 50 day moving average of $44.35 and a 200 day moving average of $40.70. 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 business also recently declared a — dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be issued 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%.

Insider Transactions at Tortoise Energy Infrastructure

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