Principal Securities Inc. Takes $46,000 Position in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Principal Securities Inc. bought a new position in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,085 shares of the financial services provider’s stock, valued at approximately $46,000.

Several other hedge funds have also recently added to or reduced their stakes in TYG. Hartford Financial Management Inc. increased its position 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 purchasing an additional 219 shares during the last quarter. Eastern Bank purchased a new position in Tortoise Energy Infrastructure in the fourth quarter valued at $124,000. First National Bank of Mount Dora Trust Investment Services acquired a new stake in Tortoise Energy Infrastructure in the fourth quarter valued at $205,000. Absolute Investment Advisers LLC purchased a new stake in Tortoise Energy Infrastructure during the 4th quarter worth about $214,000. Finally, Verity Asset Management Inc. acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter worth about $251,000. Institutional investors and hedge funds own 32.50% of the company’s stock.

Insider Transactions at Tortoise Energy Infrastructure

In other news, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $41.61, for a total value of $235,803.87. Following the completion of the sale, the insider now directly owns 1,061,234 shares of the company’s stock, valued at approximately $44,157,946.74. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the insider now owns 1,500,000 shares in the company, valued at approximately $15,000,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure Trading Down 1.5 %

TYG opened at $42.92 on Friday. The business’s 50-day simple moving average is $44.56 and its 200-day simple moving average is $41.73. Tortoise Energy Infrastructure Co. has a one year low of $29.07 and a one year high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.365 per share. The ex-dividend date is Friday, May 23rd. This represents a yield of 8.4%.

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.