Raymond James Financial Inc. Buys New Stake in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Raymond James Financial Inc. purchased a new stake in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 170,425 shares of the financial services provider’s stock, valued at approximately $7,158,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TYG. Meixler Investment Management Ltd. purchased a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter worth about $5,151,000. Financial Advocates Investment Management boosted its position in Tortoise Energy Infrastructure by 337.1% during the fourth quarter. Financial Advocates Investment Management now owns 31,059 shares of the financial services provider’s stock worth $1,304,000 after purchasing an additional 23,953 shares in the last quarter. De Lisle Partners LLP grew its holdings in Tortoise Energy Infrastructure by 42.3% in the third 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. Robinson Capital Management LLC purchased a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $732,000. Finally, Diversified Trust Co acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter worth approximately $482,000. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $42.46, for a total transaction of $391,099.06. Following the completion of the transaction, the insider now owns 1,066,901 shares in the company, valued at $45,300,616.46. This represents a 0.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure Trading Down 0.9 %

Shares of NYSE:TYG opened at $43.81 on Monday. The business’s 50 day moving average price is $44.42 and its 200-day moving average price is $42.51. Tortoise Energy Infrastructure Co. has a 1 year low of $29.54 and a 1 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. This represents a yield of 8.4%. The ex-dividend date of this dividend is Friday, May 23rd.

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.