Tortoise Energy Infrastructure Co. (NYSE:TYG) Sees Large Decline in Short Interest

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 6,900 shares, a drop of 65.3% from the October 31st total of 19,900 shares. Based on an average daily trading volume, of 29,600 shares, the short-interest ratio is presently 0.2 days.

Tortoise Energy Infrastructure Trading Up 1.6 %

NYSE TYG traded up $0.72 on Wednesday, reaching $45.46. The company had a trading volume of 24,513 shares, compared to its average volume of 38,329. The company’s fifty day moving average is $41.06 and its 200 day moving average is $37.03. Tortoise Energy Infrastructure has a 52-week low of $27.44 and a 52-week high of $45.53.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be paid a $0.78 dividend. The ex-dividend date is Friday, November 22nd. This represents a $3.12 annualized dividend and a yield of 6.86%.

Hedge Funds Weigh In On Tortoise Energy Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Tortoise Energy Infrastructure during the third quarter worth $82,000. Blue Bell Private Wealth Management LLC boosted its stake 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 valued at $102,000 after acquiring an additional 640 shares during the last quarter. Carmichael Hill & Associates Inc. grew its position in shares of Tortoise Energy Infrastructure by 9.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock valued at $277,000 after acquiring an additional 682 shares during the period. Transcend Capital Advisors LLC purchased a new stake in shares of Tortoise Energy Infrastructure during the 2nd quarter worth approximately $320,000. Finally, Bard Associates Inc. bought a new stake in shares of Tortoise Energy Infrastructure in the 3rd quarter worth approximately $356,000. Hedge funds and other institutional investors own 32.50% 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.