Tortoise Energy Infrastructure Corporation (NYSE:TYG) Short Interest Up 106.0% in April

Tortoise Energy Infrastructure Corporation (NYSE:TYG) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 133,661 shares, a growth of 106.0% from the April 15th total of 64,895 shares. Based on an average trading volume of 106,028 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.6% of the shares of the company are sold short.

Tortoise Energy Infrastructure Trading Up 0.5%

TYG stock traded up $0.22 on Monday, reaching $47.08. 123,186 shares of the company were exchanged, compared to its average volume of 139,873. Tortoise Energy Infrastructure has a 12 month low of $39.93 and a 12 month high of $51.18. The stock’s fifty day moving average price is $48.38 and its 200 day moving average price is $45.59.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be issued a dividend of $0.475 per share. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 12.1%.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in Tortoise Energy Infrastructure during the first quarter valued at about $242,000. NewEdge Advisors LLC grew its holdings in shares of Tortoise Energy Infrastructure by 9.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 500 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Tortoise Energy Infrastructure during the 2nd quarter worth approximately $203,000. Raymond James Financial Inc. increased its position in shares of Tortoise Energy Infrastructure by 14.1% during the second quarter. Raymond James Financial Inc. now owns 293,042 shares of the financial services provider’s stock valued at $12,862,000 after purchasing an additional 36,313 shares during the period. Finally, MGB Wealth Management LLC increased its position in shares of Tortoise Energy Infrastructure by 2.6% during the second quarter. MGB Wealth Management LLC now owns 23,896 shares of the financial services provider’s stock valued at $1,049,000 after purchasing an additional 601 shares during the period. Institutional investors own 32.50% of the company’s stock.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.