Tortoise Energy Infrastructure Co. Declares — Dividend of $0.37 (NYSE:TYG)

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a — dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Friday, February 21st will be given a dividend of 0.365 per share by the financial services provider on Friday, February 28th. This represents a dividend yield of 7.4%. The ex-dividend date of this dividend is Friday, February 21st.

Tortoise Energy Infrastructure Trading Up 1.3 %

Shares of Tortoise Energy Infrastructure stock opened at $46.06 on Wednesday. Tortoise Energy Infrastructure has a 1 year low of $28.91 and a 1 year high of $48.76. The firm’s 50-day moving average is $44.32 and its 200 day moving average is $41.28.

Insider Activity

In other news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the acquisition, the insider now directly owns 1,500,000 shares of the company’s stock, valued at $15,000,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the 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 completion of the transaction, the insider now directly owns 1,066,901 shares in the company, valued at approximately $45,300,616.46. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. 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.