Tortoise Energy Infrastructure (NYSE:TYG) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Tortoise Energy Infrastructure Co. (NYSE:TYG - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $39.16 and traded as high as $44.47. Tortoise Energy Infrastructure shares last traded at $43.86, with a volume of 137,815 shares trading hands.

Tortoise Energy Infrastructure Trading Up 0.5 %

The company has a 50 day simple moving average of $43.13 and a 200-day simple moving average of $39.16.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently declared a -- dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be given a dividend of $0.365 per share. This represents a dividend 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 acquired 1,500,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider now directly owns 1,500,000 shares in the company, valued at $15,000,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $42.46, for a total value of $391,099.06. Following the completion of the sale, the insider now directly owns 1,066,901 shares in the company, valued at $45,300,616.46. This represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Tortoise Energy Infrastructure

Large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Tortoise Energy Infrastructure in the 3rd quarter worth about $82,000. Bard Associates Inc. bought a new position in Tortoise Energy Infrastructure in the 3rd quarter worth approximately $356,000. Ariadne Wealth Management LP acquired a new stake in Tortoise Energy Infrastructure in the 2nd quarter valued at approximately $415,000. D.A. Davidson & CO. raised its stake in shares of Tortoise Energy Infrastructure by 6.0% during the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider's stock valued at $457,000 after purchasing an additional 661 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Tortoise Energy Infrastructure during the 2nd quarter worth about $469,000. Institutional investors and hedge funds own 32.50% 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.