Tortoise Energy Infrastructure Corporation (NYSE:TYG) Short Interest Down 98.6% in June

Tortoise Energy Infrastructure Corporation (NYSE:TYG) was the recipient of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 23,333 shares, a decline of 98.6% from the June 15th total of 1,707,709 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 237,677 shares, the days-to-cover ratio is currently 0.1 days.

Tortoise Energy Infrastructure Trading Up 0.2%

TYG stock traded up $0.08 during trading on Friday, hitting $43.32. 181,278 shares of the stock traded hands, compared to its average volume of 187,931. Tortoise Energy Infrastructure has a one year low of $40.35 and a one year high of $51.18. The company has a 50 day simple moving average of $44.41 and a 200 day simple moving average of $45.74.

Tortoise Energy Infrastructure Dividend Announcement

The company 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 of this dividend is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 13.2%.

Insider Activity

In other Tortoise Energy Infrastructure news, Director Conrad S. Ciccotello acquired 4,107 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $42.24 per share, for a total transaction of $173,479.68. Following the purchase, the director owned 16,225 shares in the company, valued at $685,344. This represents a 33.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bard Associates Inc. increased its stake in shares of Tortoise Energy Infrastructure by 584.0% in the 3rd quarter. Bard Associates Inc. now owns 114,419 shares of the financial services provider’s stock valued at $4,930,000 after buying an additional 97,692 shares during the period. Closed End Fund Advisors Inc. acquired a new position in shares of Tortoise Energy Infrastructure during the fourth quarter valued at $3,000,000. Eagle Bluffs Wealth Management LLC boosted its holdings in Tortoise Energy Infrastructure by 74.0% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 149,482 shares of the financial services provider’s stock valued at $6,114,000 after acquiring an additional 63,588 shares during the last quarter. Royal Bank of Canada boosted its holdings in Tortoise Energy Infrastructure by 22.6% in the fourth quarter. Royal Bank of Canada now owns 333,131 shares of the financial services provider’s stock valued at $13,625,000 after acquiring an additional 61,432 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in Tortoise Energy Infrastructure by 17.9% in the fourth quarter. Advisors Asset Management Inc. now owns 381,612 shares of the financial services provider’s stock worth $15,608,000 after purchasing an additional 57,930 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.