Raymond James Financial Inc. Invests $7.16 Million in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Raymond James Financial Inc. acquired a new stake in Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TYG. D.A. Davidson & CO. grew its stake in shares of Tortoise Energy Infrastructure by 6.0% in the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider's stock worth $457,000 after acquiring an additional 661 shares in the last quarter. De Lisle Partners LLP grew its stake in Tortoise Energy Infrastructure by 42.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider's stock worth $2,593,000 after purchasing an additional 19,644 shares in the last quarter. Stifel Financial Corp increased 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 purchasing an additional 2,758 shares during the period. Sanctuary Advisors LLC raised its position in Tortoise Energy Infrastructure by 58.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider's stock valued at $838,000 after purchasing an additional 7,891 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Tortoise Energy Infrastructure in the 4th quarter valued at about $482,000. Institutional investors and hedge funds own 32.50% of the company's stock.

Tortoise Energy Infrastructure Stock Performance

Shares of Tortoise Energy Infrastructure stock traded down $0.65 on Thursday, reaching $43.39. 43,206 shares of the company were exchanged, compared to its average volume of 112,964. The stock's 50 day moving average price is $44.39 and its 200-day moving average price is $42.62. Tortoise Energy Infrastructure Co. has a 1-year low of $29.53 and a 1-year high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th will be issued a $0.365 dividend. The ex-dividend date is Monday, March 24th. This represents a dividend yield of 10%.

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 completion of the sale, the insider now owns 1,066,901 shares in the company, valued at $45,300,616.46. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.28% of the company's stock.

Tortoise Energy Infrastructure Company 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.