Insider Selling: Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Sells 5,667 Shares of Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 5,667 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the sale, the insider now directly owns 1,061,234 shares of the company’s stock, valued at $44,157,946.74. This represents a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 value of $391,099.06.

Tortoise Energy Infrastructure Stock Performance

Shares of Tortoise Energy Infrastructure stock opened at $42.00 on Thursday. Tortoise Energy Infrastructure Co. has a 52-week low of $28.01 and a 52-week high of $46.35. The stock’s 50-day simple moving average is $42.92 and its 200 day simple moving average is $38.83.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be paid 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.

Institutional Inflows and Outflows

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