Tortoise Energy Infrastructure Co. (NYSE:TYG) Announces — Dividend of $0.37

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a — dividend on Monday, February 24th, Wall Street Journal reports. Stockholders of record on Friday, May 23rd will be given a dividend of 0.365 per share by the financial services provider on Friday, May 30th. This represents a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, May 23rd.

Tortoise Energy Infrastructure Price Performance

Shares of TYG stock traded down $0.56 during trading hours on Monday, hitting $44.44. 86,093 shares of the company’s stock traded hands, compared to its average volume of 124,714. The stock’s fifty day simple moving average is $44.49 and its two-hundred day simple moving average is $41.60. Tortoise Energy Infrastructure has a 12-month low of $28.91 and a 12-month high of $48.76.

Insiders Place Their Bets

In other news, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the insider now directly owns 1,500,000 shares in the company, valued at approximately $15,000,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction 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 sale, the insider now owns 1,061,234 shares in the company, valued at approximately $44,157,946.74. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

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.