MGB Wealth Management LLC Grows Holdings in Tortoise Energy Infrastructure Co. (NYSE:TYG)

MGB Wealth Management LLC grew its position in Tortoise Energy Infrastructure Co. (NYSE:TYG) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,037 shares of the financial services provider’s stock after acquiring an additional 1,744 shares during the period. MGB Wealth Management LLC owned about 0.21% of Tortoise Energy Infrastructure worth $968,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hartford Financial Management Inc. increased its stake in shares of Tortoise Energy Infrastructure by 37.5% in the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 219 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Tortoise Energy Infrastructure in the third quarter valued at approximately $82,000. Eastern Bank purchased a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $124,000. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter worth approximately $205,000. Finally, Absolute Investment Advisers LLC purchased a new position in shares of Tortoise Energy Infrastructure during the 4th quarter valued at approximately $214,000. 32.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder Prudential Financial Inc acquired 1,500,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the insider now owns 1,500,000 shares of the company’s stock, valued at approximately $15,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $235,803.87. Following 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 position. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure Price Performance

Shares of NYSE TYG opened at $44.03 on Thursday. The firm has a fifty day moving average of $44.31 and a 200 day moving average of $41.03. Tortoise Energy Infrastructure Co. has a one year low of $28.70 and a one year high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

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

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.