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

Tortoise Energy Infrastructure Corporation (NYSE:TYG) was the target of a large increase in short interest in the month of 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. Based on an average daily volume of 106,028 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.6% of the shares of the stock are sold short.

Institutional Trading of Tortoise Energy Infrastructure

A number of large investors have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its position in shares of Tortoise Energy Infrastructure by 17.9% during the 4th quarter. Advisors Asset Management Inc. now owns 381,612 shares of the financial services provider’s stock valued at $15,608,000 after acquiring an additional 57,930 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Tortoise Energy Infrastructure by 22.6% during the 4th quarter. Royal Bank of Canada now owns 333,131 shares of the financial services provider’s stock valued at $13,625,000 after acquiring an additional 61,432 shares during the last quarter. Raymond James Financial Inc. boosted its position in shares of Tortoise Energy Infrastructure by 8.3% during the 3rd quarter. Raymond James Financial Inc. now owns 317,361 shares of the financial services provider’s stock valued at $13,675,000 after acquiring an additional 24,319 shares during the last quarter. Bard Associates Inc. boosted its position in shares of Tortoise Energy Infrastructure by 71.1% during the 4th quarter. Bard Associates Inc. now owns 195,725 shares of the financial services provider’s stock valued at $8,005,000 after acquiring an additional 81,306 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Tortoise Energy Infrastructure by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 167,078 shares of the financial services provider’s stock valued at $6,910,000 after acquiring an additional 27,300 shares during the last quarter. Institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Stock Performance

Shares of TYG traded down $0.36 during trading hours on Friday, reaching $46.83. 184,581 shares of the company’s stock traded hands, compared to its average volume of 188,204. The firm’s 50 day simple moving average is $48.38 and its 200-day simple moving average is $45.57. Tortoise Energy Infrastructure has a 12 month low of $39.93 and a 12 month high of $51.18.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be given 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 is Monday, August 24th.

About Tortoise Energy Infrastructure

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.