Insider Selling: Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Sells $235,803.87 in Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 5,667 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $41.61, for a total transaction of $235,803.87. Following the completion of the transaction, the insider now owns 1,061,234 shares of the company’s stock, valued at approximately $44,157,946.74. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, December 27th, Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock. The stock was sold at an average price of $42.46, for a total transaction of $391,099.06.

Tortoise Energy Infrastructure Price Performance

Shares of TYG opened at $42.03 on Friday. The business’s 50 day moving average price is $42.94 and its 200-day moving average price is $38.86. Tortoise Energy Infrastructure Co. has a 52 week low of $28.01 and a 52 week high of $46.35.

Tortoise Energy Infrastructure Announces Dividend

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

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Tortoise Energy Infrastructure in the 3rd quarter worth about $82,000. Blue Bell Private Wealth Management LLC raised its holdings in Tortoise Energy Infrastructure by 27.9% in the second quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock worth $102,000 after buying an additional 640 shares during the last quarter. Carmichael Hill & Associates Inc. lifted its stake in shares of Tortoise Energy Infrastructure by 9.4% in the second quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock worth $277,000 after buying an additional 682 shares in the last quarter. Bard Associates Inc. purchased a new stake in shares of Tortoise Energy Infrastructure during the third quarter valued at approximately $356,000. Finally, Ariadne Wealth Management LP bought a new stake in shares of Tortoise Energy Infrastructure during the second quarter valued at approximately $415,000. 32.50% of the stock is owned by hedge funds and other 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.