Tortoise Energy Infrastructure Corporation (NYSE:TYG) Short Interest Up 761.9% in May

Tortoise Energy Infrastructure Corporation (NYSE:TYG) was the target of a large increase in short interest in May. As of May 15th, there was short interest totaling 1,152,034 shares, an increase of 761.9% from the April 30th total of 133,661 shares. Currently, 5.5% of the company’s stock are short sold. Based on an average daily volume of 260,420 shares, the short-interest ratio is currently 4.4 days.

Tortoise Energy Infrastructure Stock Down 1.0%

Shares of NYSE TYG opened at $45.07 on Thursday. The business has a fifty day simple moving average of $47.95 and a two-hundred day simple moving average of $45.75. Tortoise Energy Infrastructure has a twelve month low of $40.00 and a twelve month high of $51.18.

Tortoise Energy Infrastructure Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 12.6%.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

A number of institutional investors and hedge funds have recently bought and sold shares of TYG. Integrated Wealth Concepts LLC bought a new stake in Tortoise Energy Infrastructure during the 1st quarter valued at $242,000. NewEdge Advisors LLC raised its position in shares of Tortoise Energy Infrastructure by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock worth $246,000 after acquiring an additional 500 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Tortoise Energy Infrastructure in the 2nd quarter worth $203,000. Raymond James Financial Inc. grew its stake in Tortoise Energy Infrastructure by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 293,042 shares of the financial services provider’s stock worth $12,862,000 after buying an additional 36,313 shares during the last quarter. Finally, MGB Wealth Management LLC grew its stake in Tortoise Energy Infrastructure by 2.6% during the 2nd quarter. MGB Wealth Management LLC now owns 23,896 shares of the financial services provider’s stock worth $1,049,000 after buying an additional 601 shares during the last quarter. 32.50% of the stock is owned by institutional investors.

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.