Janney Montgomery Scott LLC Raises Holdings in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Janney Montgomery Scott LLC grew its position in Tortoise Energy Infrastructure Co. (NYSE:TYG) by 39.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,715 shares of the financial services provider’s stock after purchasing an additional 9,007 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Tortoise Energy Infrastructure were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TYG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Tortoise Energy Infrastructure during the third quarter worth approximately $82,000. Eastern Bank purchased a new position in Tortoise Energy Infrastructure in the fourth quarter valued at about $124,000. First National Bank of Mount Dora Trust Investment Services acquired a new position in Tortoise Energy Infrastructure during the fourth quarter worth $205,000. LongView Wealth Management acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter worth $294,000. Finally, Bard Associates Inc. purchased a new stake in shares of Tortoise Energy Infrastructure in the third quarter valued at about $356,000. 32.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $41.61, for a total transaction of $235,803.87. Following the sale, the insider now directly owns 1,061,234 shares in the company, valued at approximately $44,157,946.74. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the insider now directly owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This represents 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 company insiders.

Tortoise Energy Infrastructure Trading Up 0.1 %

Tortoise Energy Infrastructure stock opened at $45.58 on Wednesday. The stock has a 50-day moving average price of $44.33 and a 200 day moving average price of $40.66. Tortoise Energy Infrastructure Co. has a 52 week low of $28.43 and a 52 week high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The business 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%.

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.