57,529 Shares in Tortoise Energy Infrastructure Co. (NYSE:TYG) Bought by HighTower Advisors LLC

HighTower Advisors LLC purchased a new position in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 57,529 shares of the financial services provider's stock, valued at approximately $2,416,000. HighTower Advisors LLC owned about 0.53% of Tortoise Energy Infrastructure as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of TYG. Raymond James Financial Inc. acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter worth $7,158,000. Meixler Investment Management Ltd. acquired a new stake in shares of Tortoise Energy Infrastructure during the fourth quarter valued at $5,151,000. 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 in the last quarter. De Lisle Partners LLP grew its stake in Tortoise Energy Infrastructure by 42.3% in the 3rd quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider's stock worth $2,593,000 after acquiring an additional 19,644 shares during the period. Finally, Robinson Capital Management LLC acquired a new position in Tortoise Energy Infrastructure in the fourth quarter valued at $732,000. Institutional investors and hedge funds own 32.50% of the company's stock.

Insider Transactions at Tortoise Energy Infrastructure

In related news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the business's stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $42.46, for a total transaction of $391,099.06. Following the transaction, the insider now directly owns 1,066,901 shares of the company's stock, valued at approximately $45,300,616.46. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.28% of the company's stock.

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Tortoise Energy Infrastructure Trading Down 1.0 %

Shares of TYG stock traded down $0.44 during trading hours on Wednesday, hitting $43.97. 60,733 shares of the company were exchanged, compared to its average volume of 55,271. The firm has a fifty day moving average of $44.39 and a 200 day moving average of $42.62. 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 company also recently announced a dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 25th will be issued a $0.365 dividend. This represents a yield of 10%. The ex-dividend date of this dividend is Monday, March 24th.

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.