Short Interest in Tortoise Energy Infrastructure Corporation (NYSE:TYG) Grows By 106.0%

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

Hedge Funds Weigh In On Tortoise Energy Infrastructure

A number of large investors have recently modified their holdings of the company. Comerica Bank raised its holdings in shares of Tortoise Energy Infrastructure by 27.8% during the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock valued at $45,000 after buying an additional 242 shares in the last quarter. Samalin Investment Counsel LLC raised its holdings in shares of Tortoise Energy Infrastructure by 2.0% during the 3rd quarter. Samalin Investment Counsel LLC now owns 13,338 shares of the financial services provider’s stock valued at $575,000 after buying an additional 258 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Tortoise Energy Infrastructure by 42.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock valued at $41,000 after buying an additional 300 shares in the last quarter. Cahill Financial Advisors Inc. raised its holdings in shares of Tortoise Energy Infrastructure by 1.6% during the 4th quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider’s stock valued at $864,000 after buying an additional 323 shares in the last quarter. Finally, Diversified Trust Co. raised its holdings in shares of Tortoise Energy Infrastructure by 4.1% during the 4th quarter. Diversified Trust Co. now owns 9,106 shares of the financial services provider’s stock valued at $372,000 after buying an additional 355 shares in the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Performance

Shares of NYSE TYG traded down $0.36 during trading hours on Friday, reaching $46.83. 184,581 shares of the stock traded hands, compared to its average volume of 188,204. Tortoise Energy Infrastructure has a 52-week low of $39.93 and a 52-week high of $51.18. The company’s 50-day simple moving average is $48.38 and its two-hundred day simple moving average is $45.57.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be issued a dividend of $0.475 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Monday, August 24th.

Tortoise Energy Infrastructure Company Profile

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.