Tortoise Energy Infrastructure Co. (NYSE:TYG) Short Interest Update

by · The Cerbat Gem

Tortoise Energy Infrastructure Co. (NYSE:TYG – Get Free Report) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 23,300 shares, a drop of 24.1% from the March 15th total of 30,700 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 115,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

A number of institutional investors and hedge funds have recently made changes to their positions in TYG. Kercheville Advisors LLC acquired a new position in Tortoise Energy Infrastructure in the 4th quarter valued at about $480,000. Financial Advocates Investment Management increased its stake in shares of Tortoise Energy Infrastructure by 337.1% in the 4th quarter. Financial Advocates Investment Management now owns 31,059 shares of the financial services provider’s stock valued at $1,304,000 after purchasing an additional 23,953 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Tortoise Energy Infrastructure by 625.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 12,192 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 10,512 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Tortoise Energy Infrastructure by 39.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 31,715 shares of the financial services provider’s stock valued at $1,332,000 after purchasing an additional 9,007 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of Tortoise Energy Infrastructure by 58.6% in the 3rd quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider’s stock valued at $838,000 after acquiring an additional 7,891 shares during the last quarter. Institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Trading Down 4.2 %

Shares of NYSE TYG traded down $1.67 during mid-day trading on Monday, reaching $37.90. 58,356 shares of the company’s stock were exchanged, compared to its average volume of 59,763. The business has a fifty day simple moving average of $41.87 and a 200 day simple moving average of $42.79. Tortoise Energy Infrastructure has a twelve month low of $30.73 and a twelve month high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 25th were given a $0.365 dividend. This represents a yield of 10%. The ex-dividend date of this dividend was Monday, March 24th.

Tortoise Energy Infrastructure Company Profile

(Get Free Report)

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.

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