Short Interest in Tortoise Energy Infrastructure Co. (NYSE:TYG) Declines By 36.3%

Tortoise Energy Infrastructure Co. (NYSE:TYG) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 21,600 shares, a drop of 36.3% from the July 15th total of 33,900 shares. Based on an average daily volume of 39,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Institutional investors have recently bought and sold shares of the business. Baystate Wealth Management LLC acquired a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at $27,000. Eagle Bluffs Wealth Management LLC lifted its holdings in shares of Tortoise Energy Infrastructure by 6.6% during the 4th quarter. Eagle Bluffs Wealth Management LLC now owns 93,625 shares of the financial services provider’s stock valued at $2,694,000 after buying an additional 5,776 shares during the last quarter. John G Ullman & Associates Inc. lifted its holdings in shares of Tortoise Energy Infrastructure by 32.0% during the 4th quarter. John G Ullman & Associates Inc. now owns 10,035 shares of the financial services provider’s stock valued at $289,000 after buying an additional 2,435 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $1,070,000. Finally, JNBA Financial Advisors acquired a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $45,000. 32.50% of the stock is currently owned by institutional investors and hedge funds.

Tortoise Energy Infrastructure Trading Down 0.3 %

NYSE TYG traded down $0.10 on Tuesday, hitting $35.41. 16,596 shares of the stock were exchanged, compared to its average volume of 42,072. The company’s 50-day moving average price is $34.47 and its two-hundred day moving average price is $32.10. Tortoise Energy Infrastructure has a 52-week low of $26.77 and a 52-week high of $36.10.

Tortoise Energy Infrastructure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.78 per share. This is an increase from Tortoise Energy Infrastructure’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $3.12 dividend on an annualized basis and a dividend yield of 8.81%.

About Tortoise Energy Infrastructure

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.