Advisors Asset Management Inc. Boosts Position in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Advisors Asset Management Inc. grew its stake in Tortoise Energy Infrastructure Co. (NYSE:TYG) by 53.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 386,221 shares of the financial services provider’s stock after acquiring an additional 135,146 shares during the quarter. Advisors Asset Management Inc. owned about 3.59% of Tortoise Energy Infrastructure worth $16,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at about $7,158,000. Meixler Investment Management Ltd. acquired a new stake in Tortoise Energy Infrastructure in the 4th quarter valued at approximately $5,151,000. HighTower Advisors LLC acquired a new stake in Tortoise Energy Infrastructure in the 4th quarter valued at approximately $2,416,000. Financial Advocates Investment Management increased its position in shares of Tortoise Energy Infrastructure by 337.1% during the 4th quarter. Financial Advocates Investment Management now owns 31,059 shares of the financial services provider’s stock valued at $1,304,000 after purchasing an additional 23,953 shares during the period. Finally, De Lisle Partners LLP increased its position in shares of Tortoise Energy Infrastructure by 42.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider’s stock valued at $2,593,000 after purchasing an additional 19,644 shares during the period. 32.50% of the stock is currently owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Up 2.4 %

Shares of Tortoise Energy Infrastructure stock opened at $43.62 on Tuesday. Tortoise Energy Infrastructure Co. has a 12 month low of $29.20 and a 12 month high of $48.76. The business has a fifty day simple moving average of $44.44 and a 200-day simple moving average of $42.25.

Tortoise Energy Infrastructure Dividend Announcement

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

Insider Buying and Selling at Tortoise Energy Infrastructure

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average price of $10.00 per share, for a total transaction 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 approximately $15,000,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the firm’s stock in a transaction that occurred on 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 owns 1,061,234 shares of the company’s stock, valued at $44,157,946.74. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure 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.