Moors & Cabot Inc. Takes $400,000 Position in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Moors & Cabot Inc. acquired a new position in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) in the fourth quarter, Holdings Channel reports. The fund acquired 9,527 shares of the financial services provider’s stock, valued at approximately $400,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TYG. Noble Wealth Management PBC acquired a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at approximately $30,000. Hartford Financial Management Inc. boosted its stake in Tortoise Energy Infrastructure by 37.5% in the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock valued at $34,000 after buying an additional 219 shares in the last quarter. Principal Securities Inc. bought a new stake in Tortoise Energy Infrastructure in the fourth quarter valued at $46,000. Eastern Bank acquired a new position in Tortoise Energy Infrastructure during the fourth quarter worth $124,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Tortoise Energy Infrastructure by 42.3% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 4,174 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 1,240 shares during the period. Institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Up 3.2 %

TYG opened at $42.56 on Friday. Tortoise Energy Infrastructure Co. has a twelve month low of $29.20 and a twelve month high of $48.76. The firm’s 50-day simple moving average is $44.44 and its 200-day simple moving average is $42.21.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.365 per share. This represents a dividend yield of 8.4%. The ex-dividend date of this dividend is Friday, May 23rd.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock in a transaction dated Friday, December 27th. The stock was 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 of the company’s stock, valued at $45,300,616.46. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the insider now owns 1,500,000 shares in the company, valued at approximately $15,000,000. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by corporate insiders.

About Tortoise Energy Infrastructure

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.