Tortoise Energy Infrastructure (NYSE:TYG) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $39.16 and traded as high as $44.47. Tortoise Energy Infrastructure shares last traded at $43.86, with a volume of 137,815 shares trading hands.

Tortoise Energy Infrastructure Stock Performance

The stock has a 50 day simple moving average of $43.20 and a 200 day simple moving average of $39.19.

Tortoise Energy Infrastructure Announces Dividend

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

Insider Buying and Selling at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure 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 transaction, the insider now owns 1,066,901 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the acquisition, the insider now directly owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Tortoise Energy Infrastructure during the 3rd quarter worth $82,000. Bard Associates Inc. acquired a new position in shares of Tortoise Energy Infrastructure in the third quarter valued at approximately $356,000. Diversified Trust Co acquired a new stake in Tortoise Energy Infrastructure during the 4th quarter worth approximately $482,000. D.A. Davidson & CO. grew its holdings in Tortoise Energy Infrastructure by 6.0% during the 3rd quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock worth $457,000 after acquiring an additional 661 shares during the last quarter. Finally, Ariadne Wealth Management LP acquired a new position in Tortoise Energy Infrastructure in the 2nd quarter valued at approximately $415,000. 32.50% of the stock is currently owned by institutional investors and hedge funds.

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.