Tortoise Energy Infrastructure Co. (NYSE:TYG) Sees Significant Increase in Short Interest

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 43,000 shares, a growth of 120.5% from the January 15th total of 19,500 shares. Based on an average daily volume of 83,100 shares, the days-to-cover ratio is currently 0.5 days.

Tortoise Energy Infrastructure Price Performance

Shares of NYSE TYG traded up $0.51 during trading hours on Thursday, hitting $44.65. 30,653 shares of the stock were exchanged, compared to its average volume of 130,780. Tortoise Energy Infrastructure has a one year low of $28.87 and a one year high of $48.76. The company’s 50 day moving average is $44.31 and its 200 day moving average is $41.03.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be given a $0.365 dividend. This represents a dividend yield of 7.4%. The ex-dividend date is Friday, February 21st.

Insider Activity

In related news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the insider now directly owns 1,500,000 shares of the company’s stock, valued at $15,000,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 1,061,234 shares in the company, valued at approximately $44,157,946.74. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

A number of institutional investors have recently made changes to their positions in TYG. Sanctuary Advisors LLC acquired a new stake in Tortoise Energy Infrastructure in the 2nd quarter valued at approximately $469,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Tortoise Energy Infrastructure in the third quarter valued at approximately $82,000. Raymond James & Associates grew its stake in shares of Tortoise Energy Infrastructure by 679.7% in the third quarter. Raymond James & Associates now owns 75,830 shares of the financial services provider’s stock worth $2,976,000 after acquiring an additional 66,104 shares during the last quarter. Bayshore Asset Management LLC bought a new position in Tortoise Energy Infrastructure during the third quarter worth $688,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Tortoise Energy Infrastructure by 604.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 76,567 shares of the financial services provider’s stock valued at $3,005,000 after purchasing an additional 65,695 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors.

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.