Saba Capital Management, L.P. Sells 5,667 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Saba Capital Management, L.P. sold 5,667 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were 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 $44,157,946.74. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, December 27th, Saba Capital Management, L.P. sold 9,211 shares of Tortoise Energy Infrastructure stock. The stock was sold at an average price of $42.46, for a total value of $391,099.06.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG stock opened at $42.00 on Thursday. The firm has a fifty day simple moving average of $42.92 and a two-hundred day simple moving average of $38.83. Tortoise Energy Infrastructure Co. has a 12 month low of $28.01 and a 12 month high of $46.35.

Tortoise Energy Infrastructure Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Tortoise Energy Infrastructure during the 3rd quarter valued at $82,000. Blue Bell Private Wealth Management LLC increased its stake in Tortoise Energy Infrastructure by 27.9% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock valued at $102,000 after buying an additional 640 shares during the last quarter. Carmichael Hill & Associates Inc. lifted its position in shares of Tortoise Energy Infrastructure by 9.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock worth $277,000 after buying an additional 682 shares in the last quarter. Bard Associates Inc. purchased a new position in shares of Tortoise Energy Infrastructure in the 3rd quarter worth approximately $356,000. Finally, Ariadne Wealth Management LP bought a new position in shares of Tortoise Energy Infrastructure in the second quarter valued at approximately $415,000. Institutional investors 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.