Meixler Investment Management Ltd. Purchases Shares of 122,642 Tortoise Energy Infrastructure Co. (NYSE:TYG)

Meixler Investment Management Ltd. acquired a new position in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 122,642 shares of the financial services provider's stock, valued at approximately $5,151,000. Tortoise Energy Infrastructure comprises approximately 3.8% of Meixler Investment Management Ltd.'s investment portfolio, making the stock its 6th biggest holding. Meixler Investment Management Ltd. owned approximately 1.14% of Tortoise Energy Infrastructure as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TYG. Raymond James & Associates grew 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 worth $2,976,000 after buying an additional 66,104 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Tortoise Energy Infrastructure by 604.3% during the third 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. Advisors Asset Management Inc. grew its holdings in shares of Tortoise Energy Infrastructure by 12.9% during the third quarter. Advisors Asset Management Inc. now owns 251,075 shares of the financial services provider's stock worth $9,855,000 after buying an additional 28,661 shares during the last quarter. Financial Advocates Investment Management grew its holdings in shares of Tortoise Energy Infrastructure by 337.1% during the fourth quarter. Financial Advocates Investment Management now owns 31,059 shares of the financial services provider's stock worth $1,304,000 after buying an additional 23,953 shares during the last quarter. Finally, De Lisle Partners LLP grew its holdings in shares of Tortoise Energy Infrastructure by 42.3% during the third quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider's stock worth $2,593,000 after buying an additional 19,644 shares during the last quarter. Hedge funds and other institutional investors own 32.50% of the company's stock.

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Tortoise Energy Infrastructure Price Performance

NYSE:TYG traded down $0.52 during mid-day trading on Thursday, reaching $45.50. The stock had a trading volume of 110,729 shares, compared to its average volume of 126,322. Tortoise Energy Infrastructure Co. has a twelve month low of $28.91 and a twelve month high of $48.76. The business has a 50 day simple moving average of $44.46 and a 200 day simple moving average of $41.42.

Tortoise Energy Infrastructure Dividend Announcement

The business 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 is Friday, February 21st. This represents a dividend yield of 7.4%.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $42.46, for a total transaction of $391,099.06. Following the completion of the sale, the insider now directly owns 1,066,901 shares in the company, valued at approximately $45,300,616.46. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Insiders own 0.28% of the company's stock.

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.