Aristides Capital LLC Has $5.04 Million Holdings in Tortoise Energy Infrastructure Corporation $TYG

Key Points

• Aristides Capital LLC reduced its holdings in Tortoise Energy Infrastructure Corporation by 56.5% in the first quarter, now owning approximately $5.04 million in stock.
• Major shareholder Prudential Financial Inc purchased 1.5 million shares for $15 million, greatly increasing their holdings in Tortoise Energy Infrastructure.
• The company has announced a monthly dividend of $0.365 per share, providing an annualized yield of 10.2% for stockholders.

Aristides Capital LLC cut its stake in Tortoise Energy Infrastructure Corporation (NYSE:TYG - Free Report) by 56.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,102 shares of the financial services provider's stock after selling 152,151 shares during the period. Tortoise Energy Infrastructure makes up 1.5% of Aristides Capital LLC's holdings, making the stock its 12th largest position. Aristides Capital LLC owned approximately 1.09% of Tortoise Energy Infrastructure worth $5,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TYG. Saba Capital Management L.P. lifted its position in Tortoise Energy Infrastructure by 118.8% during the 4th quarter. Saba Capital Management L.P. now owns 1,048,879 shares of the financial services provider's stock worth $44,053,000 after buying an additional 569,441 shares in the last quarter. Almitas Capital LLC bought a new stake in Tortoise Energy Infrastructure during the 4th quarter worth about $10,444,000. Bulldog Investors LLP bought a new stake in Tortoise Energy Infrastructure during the 4th quarter worth about $7,997,000. Penserra Capital Management LLC bought a new stake in Tortoise Energy Infrastructure during the 1st quarter worth about $4,962,000. Finally, Raymond James Financial Inc. lifted its position in Tortoise Energy Infrastructure by 50.6% during the 1st quarter. Raymond James Financial Inc. now owns 256,729 shares of the financial services provider's stock worth $11,052,000 after buying an additional 86,304 shares in the last quarter. 32.50% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Prudential Financial Inc purchased 1,500,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were acquired at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider owned 1,500,000 shares in the company, valued at approximately $15,000,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company's stock.

Tortoise Energy Infrastructure Stock Up 0.3%

Shares of TYG stock opened at $42.93 on Tuesday. The firm's 50-day moving average is $42.97 and its 200-day moving average is $41.92. Tortoise Energy Infrastructure Corporation has a 52-week low of $33.73 and a 52-week high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd will be issued a $0.365 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 23rd.

Tortoise Energy Infrastructure Company Profile

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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