Tortoise Energy Infrastructure Co. (NYSE:TYG) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) by 53.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,221 shares of the financial services provider's stock after buying an additional 135,146 shares during the quarter. Advisors Asset Management Inc. owned approximately 3.59% of Tortoise Energy Infrastructure worth $16,221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TYG. Noble Wealth Management PBC purchased a new position in Tortoise Energy Infrastructure in the 4th quarter worth approximately $30,000. Hartford Financial Management Inc. lifted its stake in Tortoise Energy Infrastructure by 37.5% in the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider's stock worth $34,000 after purchasing an additional 219 shares in the last quarter. Principal Securities Inc. purchased a new position in Tortoise Energy Infrastructure in the 4th quarter worth approximately $46,000. Eastern Bank purchased a new position in Tortoise Energy Infrastructure in the 4th quarter worth approximately $124,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in Tortoise Energy Infrastructure by 42.3% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 4,174 shares of the financial services provider's stock worth $175,000 after purchasing an additional 1,240 shares in the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

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Tortoise Energy Infrastructure Trading Down 0.9 %

TYG traded down $0.39 during trading on Friday, reaching $43.81. The company's stock had a trading volume of 59,106 shares, compared to its average volume of 55,228. The firm has a fifty day simple moving average of $44.42 and a two-hundred day simple moving average of $42.42. Tortoise Energy Infrastructure Co. has a 1 year low of $29.54 and a 1 year high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a -- dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 23rd will be paid a $0.365 dividend. This represents a yield of 8.4%. The ex-dividend date of this dividend is Friday, May 23rd.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the firm's 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 owns 1,066,901 shares in the company, valued at $45,300,616.46. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.