Calamos Advisors LLC Purchases New Stake in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Calamos Advisors LLC bought a new position in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) during the fourth quarter, Holdings Channel reports. The institutional investor bought 7,824 shares of the financial services provider’s stock, valued at approximately $329,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hartford Financial Management Inc. raised its stake in Tortoise Energy Infrastructure by 37.5% during the fourth quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 219 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Tortoise Energy Infrastructure during the 3rd quarter worth approximately $82,000. Eastern Bank acquired a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter worth approximately $124,000. First National Bank of Mount Dora Trust Investment Services acquired a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter worth approximately $205,000. Finally, Absolute Investment Advisers LLC acquired a new stake in Tortoise Energy Infrastructure in the fourth quarter worth $214,000. 32.50% of the stock is owned by institutional investors and hedge funds.

Tortoise Energy Infrastructure Stock Up 1.0 %

Shares of NYSE TYG opened at $46.19 on Thursday. Tortoise Energy Infrastructure Co. has a 1-year low of $28.43 and a 1-year high of $48.76. The business’s fifty day moving average price is $44.35 and its two-hundred day moving average price is $40.70.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be issued a $0.365 dividend. The ex-dividend date is Friday, February 21st. This represents a dividend yield of 7.4%.

Insider Buying and Selling

In other Tortoise Energy Infrastructure news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the transaction, the insider now directly owns 1,500,000 shares in the company, valued at $15,000,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Saba Capital Management, L.P. sold 9,211 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $42.46, for a total value of $391,099.06. Following the transaction, the insider now directly owns 1,066,901 shares in the company, valued at $45,300,616.46. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

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.