Verity Asset Management Inc. Buys New Shares in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Verity Asset Management Inc. purchased a new position in Tortoise Energy Infrastructure Co. (NYSE:TYG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,974 shares of the financial services provider’s stock, valued at approximately $251,000. Verity Asset Management Inc. owned about 0.06% of Tortoise Energy Infrastructure as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TYG. Raymond James & Associates lifted its stake in shares of Tortoise Energy Infrastructure by 679.7% in the 3rd quarter. Raymond James & Associates now owns 75,830 shares of the financial services provider’s stock valued at $2,976,000 after acquiring an additional 66,104 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Tortoise Energy Infrastructure by 604.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 76,567 shares of the financial services provider’s stock worth $3,005,000 after purchasing an additional 65,695 shares during the period. Advisors Asset Management Inc. lifted its position in Tortoise Energy Infrastructure by 12.9% in the third quarter. Advisors Asset Management Inc. now owns 251,075 shares of the financial services provider’s stock valued at $9,855,000 after purchasing an additional 28,661 shares during the last quarter. De Lisle Partners LLP boosted its stake in shares of Tortoise Energy Infrastructure by 42.3% during 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. Finally, Bayshore Asset Management LLC bought a new position in shares of Tortoise Energy Infrastructure in the third quarter worth approximately $688,000. 32.50% of the stock is currently owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Trading Up 0.1 %

NYSE:TYG opened at $45.58 on Wednesday. The company has a fifty day moving average of $44.33 and a 200 day moving average of $40.66. Tortoise Energy Infrastructure Co. has a 52 week low of $28.43 and a 52 week high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently announced a — dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.365 per share. The ex-dividend date is Friday, February 21st. This represents a dividend yield of 7.4%.

Insider Buying and Selling

In other news, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 1,500,000 shares in the company, valued at $15,000,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the company’s stock in a transaction on Monday, December 30th. The stock was 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 in the company, valued at approximately $44,157,946.74. The trade was a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.

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.