Tortoise Energy Infrastructure Co. (NYSE:TYG) Position Trimmed by Quadrant Private Wealth Management LLC

Quadrant Private Wealth Management LLC lessened its holdings in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) by 2.6% during the 4th quarter, HoldingsChannel reports. The fund owned 18,472 shares of the financial services provider’s stock after selling 485 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Tortoise Energy Infrastructure were worth $776,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hartford Financial Management Inc. grew its stake in shares of 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. Eastern Bank bought a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at approximately $124,000. First National Bank of Mount Dora Trust Investment Services bought a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at approximately $205,000. Absolute Investment Advisers LLC bought a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at approximately $214,000. Finally, Verity Asset Management Inc. bought a new stake in shares of Tortoise Energy Infrastructure in the 4th quarter valued at approximately $251,000. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Performance

TYG opened at $45.44 on Friday. The business has a 50 day moving average price of $44.32 and a 200 day moving average price of $41.13. Tortoise Energy Infrastructure Co. has a twelve month low of $28.91 and a twelve month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be given 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.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the insider now owns 1,500,000 shares of the company’s stock, valued at $15,000,000. This represents a ? increase in their position. The disclosure for this purchase can be found here. 0.28% of the stock is currently owned by company 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.