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

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 9,211 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $42.46, for a total transaction of $391,099.06. Following the transaction, the insider now directly owns 1,066,901 shares in the company, valued at $45,300,616.46. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% 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 Monday, December 30th, Saba Capital Management, L.P. sold 5,667 shares of Tortoise Energy Infrastructure stock. The stock was sold at an average price of $41.61, for a total value of $235,803.87.

Tortoise Energy Infrastructure Stock Up 0.1 %

Shares of NYSE TYG opened at $42.03 on Friday. Tortoise Energy Infrastructure Co. has a fifty-two week low of $28.01 and a fifty-two week high of $46.35. The business has a fifty day moving average price of $42.94 and a two-hundred day moving average price of $38.86.

Tortoise Energy Infrastructure Dividend Announcement

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

Institutional Trading of Tortoise Energy Infrastructure

A number of hedge funds have recently added to or reduced their stakes in TYG. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Tortoise Energy Infrastructure in the 3rd quarter valued at approximately $82,000. Blue Bell Private Wealth Management LLC increased its holdings in Tortoise Energy Infrastructure by 27.9% in the second quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 640 shares in the last quarter. Carmichael Hill & Associates Inc. increased its stake 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 valued at $277,000 after purchasing an additional 682 shares in the last quarter. Bard Associates Inc. bought a new position in shares of Tortoise Energy Infrastructure during the 3rd quarter worth about $356,000. Finally, Ariadne Wealth Management LP acquired a new position in Tortoise Energy Infrastructure during the 2nd quarter worth approximately $415,000. Institutional investors and hedge funds own 32.50% of the company’s stock.

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.