Ingalls & Snyder LLC lowered its position in Tortoise Energy Infrastructure Corp. (NYSE:TYG) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,042 shares of the financial services provider’s stock after selling 3,931 shares during the period. Ingalls & Snyder LLC owned approximately 0.10% of Tortoise Energy Infrastructure worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of TYG. Amussen Hunsaker & Associates LLC acquired a new position in Tortoise Energy Infrastructure in the second quarter valued at approximately $2,076,000. Sit Investment Associates Inc. lifted its holdings in Tortoise Energy Infrastructure by 10.1% in the fourth quarter. Sit Investment Associates Inc. now owns 699,841 shares of the financial services provider’s stock valued at $20,351,000 after acquiring an additional 64,113 shares during the period. Garner Asset Management Corp acquired a new position in Tortoise Energy Infrastructure in the second quarter valued at approximately $1,246,000. Paragon Capital Management LLC lifted its holdings in Tortoise Energy Infrastructure by 14.8% in the third quarter. Paragon Capital Management LLC now owns 296,881 shares of the financial services provider’s stock valued at $8,597,000 after acquiring an additional 38,227 shares during the period. Finally, John G Ullman & Associates Inc. acquired a new position in Tortoise Energy Infrastructure in the third quarter valued at approximately $987,000. Hedge funds and other institutional investors own 29.51% of the company’s stock.
In other Tortoise Energy Infrastructure news, insider Matthew Sallee bought 5,000 shares of Tortoise Energy Infrastructure stock in a transaction dated Thursday, November 30th. The stock was acquired at an average cost of $25.47 per share, with a total value of $127,350.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Terry Matlack acquired 1,000 shares of Tortoise Energy Infrastructure stock in a transaction that occurred on Tuesday, December 12th. The stock was purchased at an average cost of $26.13 per share, with a total value of $26,130.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 10,537 shares of company stock valued at $278,434. Corporate insiders own 0.33% of the company’s stock.
Shares of Tortoise Energy Infrastructure Corp. (NYSE:TYG) traded up $0.91 during trading hours on Monday, reaching $30.05. The company’s stock had a trading volume of 105,584 shares, compared to its average volume of 226,006. Tortoise Energy Infrastructure Corp. has a one year low of $24.30 and a one year high of $37.11. The firm has a market capitalization of $1,480.00, a P/E ratio of -13.30 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 8.72%. The ex-dividend date of this dividend is Tuesday, February 20th. Tortoise Energy Infrastructure’s payout ratio is -115.93%.
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Tortoise Energy Infrastructure Profile
Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.
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