Raymond James Financial Inc. acquired a new stake in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 170,425 shares of the financial services provider's stock, valued at approximately $7,158,000. Raymond James Financial Inc. owned about 1.58% of Tortoise Energy Infrastructure at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in TYG. Meixler Investment Management Ltd. purchased a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $5,151,000. De Lisle Partners LLP boosted its holdings in shares of Tortoise Energy Infrastructure by 42.3% in the third quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider's stock valued at $2,593,000 after purchasing an additional 19,644 shares during the period. Stifel Financial Corp grew its holdings in Tortoise Energy Infrastructure by 7.7% during the 3rd quarter. Stifel Financial Corp now owns 38,483 shares of the financial services provider's stock worth $1,510,000 after acquiring an additional 2,758 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Tortoise Energy Infrastructure by 39.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 31,715 shares of the financial services provider's stock valued at $1,332,000 after buying an additional 9,007 shares during the period. Finally, Financial Advocates Investment Management boosted its position in 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 acquiring an additional 23,953 shares in the last quarter. Institutional investors own 32.50% of the company's stock.
Insider Buying and Selling
In related news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the business's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.28% of the stock is currently owned by company insiders.
Tortoise Energy Infrastructure Stock Down 1.0 %
Shares of Tortoise Energy Infrastructure stock traded down $0.44 on Wednesday, reaching $43.97. The stock had a trading volume of 60,733 shares, compared to its average volume of 55,376. Tortoise Energy Infrastructure Co. has a 1 year low of $29.54 and a 1 year high of $48.76. The company has a 50 day moving average price of $44.39 and a 200 day moving average price of $42.62.
Tortoise Energy Infrastructure Announces Dividend
The business also recently disclosed a dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.365 per share. This represents a dividend yield of 10%. The ex-dividend date of this dividend is Monday, March 24th.
Tortoise Energy Infrastructure Company Profile
(
Free Report)
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.
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