1620 Investment Advisors Inc. Buys New Shares in Tortoise Energy Infrastructure Co. (NYSE:TYG)

1620 Investment Advisors Inc. purchased a new stake in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,236 shares of the financial services provider's stock, valued at approximately $808,000. 1620 Investment Advisors Inc. owned approximately 0.18% of Tortoise Energy Infrastructure at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TYG. Raymond James Financial Inc. purchased a new stake in Tortoise Energy Infrastructure during the 4th quarter valued at $7,158,000. Advisors Asset Management Inc. increased its position in Tortoise Energy Infrastructure by 53.8% during the fourth quarter. Advisors Asset Management Inc. now owns 386,221 shares of the financial services provider's stock valued at $16,221,000 after acquiring an additional 135,146 shares during the last quarter. Meixler Investment Management Ltd. bought a new position in Tortoise Energy Infrastructure in the fourth quarter valued at about $5,151,000. HighTower Advisors LLC purchased a new position in Tortoise Energy Infrastructure in the fourth quarter worth about $2,416,000. Finally, Financial Advocates Investment Management grew its stake in shares of Tortoise Energy Infrastructure by 337.1% during the 4th quarter. Financial Advocates Investment Management now owns 31,059 shares of the financial services provider's stock valued at $1,304,000 after purchasing an additional 23,953 shares during the period. Hedge funds and other institutional investors own 32.50% of the company's stock.

Insider Transactions at Tortoise Energy Infrastructure

In other news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the firm's stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $42.46, for a total value of $391,099.06. Following the transaction, the insider now owns 1,066,901 shares of the company's stock, valued at $45,300,616.46. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.28% of the company's stock.

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Tortoise Energy Infrastructure Price Performance

Shares of NYSE TYG traded up $0.50 during midday trading on Tuesday, hitting $44.30. 59,979 shares of the company's stock traded hands, compared to its average volume of 55,243. The firm has a fifty day moving average of $44.41 and a 200 day moving average of $42.56. Tortoise Energy Infrastructure Co. has a 1 year low of $29.54 and a 1 year high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th will be given a $0.365 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a yield of 10%.

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.