Tortoise Energy Infrastructure Corporation (NYSE:TYG) Short Interest Update

Tortoise Energy Infrastructure Corporation (NYSE:TYG) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 1,152,034 shares, a growth of 761.9% from the April 30th total of 133,661 shares. Based on an average daily volume of 260,420 shares, the days-to-cover ratio is presently 4.4 days. Approximately 5.5% of the shares of the company are short sold.

Institutional Trading of Tortoise Energy Infrastructure

Several large investors have recently made changes to their positions in TYG. Integrated Wealth Concepts LLC purchased a new stake in shares of Tortoise Energy Infrastructure in the 1st quarter valued at $242,000. NewEdge Advisors LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock valued at $246,000 after acquiring an additional 500 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Tortoise Energy Infrastructure in the 2nd quarter valued at $203,000. Raymond James Financial Inc. boosted its holdings in shares of Tortoise Energy Infrastructure by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 293,042 shares of the financial services provider’s stock valued at $12,862,000 after acquiring an additional 36,313 shares during the last quarter. Finally, MGB Wealth Management LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 2.6% in the 2nd quarter. MGB Wealth Management LLC now owns 23,896 shares of the financial services provider’s stock valued at $1,049,000 after acquiring an additional 601 shares during the last quarter. 32.50% of the stock is owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Performance

Shares of Tortoise Energy Infrastructure stock opened at $44.04 on Friday. Tortoise Energy Infrastructure has a 12-month low of $40.00 and a 12-month high of $51.18. The firm’s 50 day simple moving average is $47.69 and its two-hundred day simple moving average is $45.75.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be paid a dividend of $0.475 per share. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 12.9%.

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.