Tortoise Energy Infrastructure Co. (NYSE:TYG) Major Shareholder Saba Capital Management, L.P. Sells 9,211 Shares of Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 9,211 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $42.46, for a total transaction of $391,099.06. Following the transaction, the insider now owns 1,066,901 shares of the company’s stock, valued at approximately $45,300,616.46. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, December 30th, Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock. The shares were sold at an average price of $41.61, for a total value of $235,803.87.

Tortoise Energy Infrastructure Stock Up 0.1 %

TYG stock opened at $42.00 on Wednesday. Tortoise Energy Infrastructure Co. has a 52-week low of $28.01 and a 52-week high of $46.35. The company has a fifty day moving average price of $42.88 and a 200-day moving average price of $38.81.

Tortoise Energy Infrastructure Announces Dividend

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

Institutional Trading of Tortoise Energy Infrastructure

Several large investors have recently modified their holdings of TYG. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Tortoise Energy Infrastructure during the 3rd quarter valued at $82,000. Blue Bell Private Wealth Management LLC increased its position in shares of 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 purchasing an additional 640 shares during the last quarter. Carmichael Hill & Associates Inc. raised its position in 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 acquiring an additional 682 shares during the period. Bard Associates Inc. purchased a new stake in shares of Tortoise Energy Infrastructure during the 3rd quarter worth approximately $356,000. Finally, D.A. Davidson & CO. grew its holdings in Tortoise Energy Infrastructure by 6.0% during the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 661 shares during the period. Institutional investors and hedge funds 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.