Tortoise Energy Infrastructure (NYSE:TYG) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Tortoise Energy Infrastructure Co. (NYSE:TYG)’s stock price crossed 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 changing hands.

Tortoise Energy Infrastructure Stock Performance

The firm has a 50 day moving average price of $43.13 and a two-hundred day moving average price of $39.16.

Tortoise Energy Infrastructure Dividend Announcement

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

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the 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 completion of the sale, the insider now directly owns 1,066,901 shares of the company’s stock, valued at approximately $45,300,616.46. This represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider now owns 1,500,000 shares in the company, valued at approximately $15,000,000. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of Tortoise Energy Infrastructure

Institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Tortoise Energy Infrastructure in the 3rd quarter worth approximately $82,000. Bard Associates Inc. purchased a new stake in shares of Tortoise Energy Infrastructure during the third quarter worth $356,000. Ariadne Wealth Management LP acquired a new stake in Tortoise Energy Infrastructure during the second quarter valued at $415,000. D.A. Davidson & CO. grew its stake in Tortoise Energy Infrastructure by 6.0% in the third quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock valued at $457,000 after purchasing an additional 661 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Tortoise Energy Infrastructure in the 2nd quarter worth about $469,000. 32.50% of the stock is currently owned by institutional investors and hedge funds.

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.