Matisse Capital Sells 18,980 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG)

Matisse Capital trimmed its position in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) by 23.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,020 shares of the financial services provider's stock after selling 18,980 shares during the quarter. Tortoise Energy Infrastructure accounts for 1.3% of Matisse Capital's investment portfolio, making the stock its 22nd largest holding. Matisse Capital owned 0.57% of Tortoise Energy Infrastructure worth $2,563,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Catalina Capital Group LLC purchased a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter worth approximately $266,000. Absolute Investment Advisers LLC purchased a new stake in Tortoise Energy Infrastructure in the 4th quarter valued at $214,000. DAVENPORT & Co LLC lifted its stake in Tortoise Energy Infrastructure by 13.6% during the 4th quarter. DAVENPORT & Co LLC now owns 7,622 shares of the financial services provider's stock valued at $320,000 after acquiring an additional 915 shares in the last quarter. Hartford Financial Management Inc. lifted its stake in Tortoise Energy Infrastructure by 37.5% during the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 219 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Tortoise Energy Infrastructure by 39.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 31,715 shares of the financial services provider's stock worth $1,332,000 after acquiring an additional 9,007 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG traded up $0.40 on Wednesday, reaching $46.12. 27,369 shares of the company's stock traded hands, compared to its average volume of 125,794. The stock's 50 day simple moving average is $44.33 and its two-hundred day simple moving average is $40.66. Tortoise Energy Infrastructure Co. has a 52-week low of $28.43 and a 52-week high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a -- dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.365 per share. This represents a yield of 7.4%. The ex-dividend date of this dividend is Friday, February 21st.

Insiders Place Their Bets

In related news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the purchase, the insider now directly owns 1,500,000 shares in the company, valued at approximately $15,000,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the firm's stock in a transaction dated 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 $44,157,946.74. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Company 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.