Advisors Asset Management Inc. Has $16.22 Million Holdings in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Advisors Asset Management Inc. increased its holdings in Tortoise Energy Infrastructure Co. (NYSE:TYG) by 53.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 386,221 shares of the financial services provider’s stock after purchasing an additional 135,146 shares during the period. Advisors Asset Management Inc.’s holdings in Tortoise Energy Infrastructure were worth $16,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kercheville Advisors LLC bought a new stake in Tortoise Energy Infrastructure in the 4th quarter worth $480,000. Financial Advocates Investment Management raised its holdings in shares of 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 valued at $1,304,000 after purchasing an additional 23,953 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Tortoise Energy Infrastructure by 625.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,192 shares of the financial services provider’s stock valued at $512,000 after purchasing an additional 10,512 shares during the last quarter. Sanctuary Advisors LLC grew its position in Tortoise Energy Infrastructure by 58.6% during the third quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider’s stock valued at $838,000 after buying an additional 7,891 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of Tortoise Energy Infrastructure by 39.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 31,715 shares of the financial services provider’s stock worth $1,332,000 after purchasing an additional 9,007 shares during the period. 32.50% of the stock is owned by institutional investors.

Tortoise Energy Infrastructure Stock Performance

Shares of NYSE:TYG opened at $43.62 on Tuesday. Tortoise Energy Infrastructure Co. has a fifty-two week low of $29.20 and a fifty-two week high of $48.76. The firm has a fifty day moving average price of $44.44 and a 200 day moving average price of $42.25.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently announced a — dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 23rd will be given 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.

Insider Transactions at Tortoise Energy Infrastructure

In related news, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the business’s stock in a transaction on Friday, December 27th. The shares were 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 owns 1,066,901 shares of the company’s stock, valued at approximately $45,300,616.46. The trade was a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Prudential Financial Inc bought 1,500,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $10.00 per share, with a total value of $15,000,000.00. Following the acquisition, the insider now directly owns 1,500,000 shares of the company’s stock, 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. Insiders own 0.28% 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.