Tortoise Energy Infrastructure Co. (NYSE:TYG) Short Interest Down 45.1% in February

Tortoise Energy Infrastructure Co. (NYSE:TYG - Get Free Report) saw a large decrease in short interest in February. As of February 15th, there was short interest totalling 23,600 shares, a decrease of 45.1% from the January 31st total of 43,000 shares. Based on an average daily volume of 91,100 shares, the short-interest ratio is presently 0.3 days.

Insider Activity at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the transaction, the insider now directly owns 1,500,000 shares in the company, valued at approximately $15,000,000. This trade 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 at this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the company's stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $42.46, for a total value of $391,099.06. Following the sale, the insider now owns 1,066,901 shares in the company, valued at approximately $45,300,616.46. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

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Institutional Trading of Tortoise Energy Infrastructure

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hartford Financial Management Inc. raised its stake in shares of Tortoise Energy Infrastructure by 37.5% in the fourth 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 during the last quarter. Comerica Bank grew its holdings in shares of Tortoise Energy Infrastructure by 95.0% in the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 459 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $25,000. Jaffetilchin Investment Partners LLC grew its holdings in shares of Tortoise Energy Infrastructure by 13.3% in the fourth quarter. Jaffetilchin Investment Partners LLC now owns 5,239 shares of the financial services provider's stock valued at $220,000 after acquiring an additional 613 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings 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 valued at $457,000 after acquiring an additional 661 shares in the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Down 0.4 %

TYG stock traded down $0.16 during trading on Wednesday, reaching $41.97. 77,950 shares of the stock were exchanged, compared to its average volume of 53,639. The firm's 50 day moving average is $44.61 and its 200 day moving average is $41.97. Tortoise Energy Infrastructure has a twelve month low of $29.18 and a twelve month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

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

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.