Almitas Capital LLC Has $1.39 Million Stake in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• Almitas Capital LLC significantly reduced its holdings in Tortoise Energy Infrastructure, selling 216,405 shares and now owning only 32,261 shares, representing an 87.0% decrease.
• In contrast, Saba Capital Management L.P. increased its position in Tortoise Energy Infrastructure by 118.8%, holding over 1 million shares valued at approximately $44 million.
• Tortoise Energy Infrastructure recently declared a monthly dividend of $0.365 per share, with a dividend yield of 10.3%, payable on September 30th.

Almitas Capital LLC cut its position in shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) by 87.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,261 shares of the financial services provider's stock after selling 216,405 shares during the period. Almitas Capital LLC owned 0.30% of Tortoise Energy Infrastructure worth $1,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new position in Tortoise Energy Infrastructure in the 4th quarter worth approximately $25,000. Stifel Financial Corp boosted its stake in Tortoise Energy Infrastructure by 11.5% in the 4th quarter. Stifel Financial Corp now owns 42,923 shares of the financial services provider's stock valued at $1,803,000 after buying an additional 4,440 shares in the last quarter. Comerica Bank boosted its stake in Tortoise Energy Infrastructure by 95.0% in the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider's stock worth $40,000 after purchasing an additional 459 shares in the last quarter. Bank of America Corp DE boosted its stake in Tortoise Energy Infrastructure by 56.1% in the fourth quarter. Bank of America Corp DE now owns 61,617 shares of the financial services provider's stock worth $2,588,000 after purchasing an additional 22,156 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Tortoise Energy Infrastructure during the fourth quarter worth approximately $272,000. Institutional investors and hedge funds own 32.50% of the company's stock.

Insider Activity

In other news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were acquired at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the insider directly owned 1,500,000 shares of the company's stock, valued at $15,000,000. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by company insiders.

Tortoise Energy Infrastructure Trading Down 0.3%

Shares of TYG traded down $0.12 during trading hours on Friday, hitting $42.64. 54,637 shares of the stock traded hands, compared to its average volume of 58,979. Tortoise Energy Infrastructure Corporation has a 1-year low of $33.73 and a 1-year high of $48.76. The business has a fifty day moving average of $43.04 and a 200-day moving average of $41.79.

Tortoise Energy Infrastructure Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be paid a dividend of $0.365 per share. This represents a c) annualized dividend and a dividend yield of 10.3%. The ex-dividend date of this dividend is Tuesday, September 23rd.

About Tortoise Energy Infrastructure

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.