Zimmer Partners LP Grows Stake in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Zimmer Partners LP raised its stake in shares of Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) by 38.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,918 shares of the financial services provider's stock after purchasing an additional 23,460 shares during the quarter. Zimmer Partners LP owned approximately 0.78% of Tortoise Energy Infrastructure worth $3,525,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Saba Capital Management L.P. raised its position in shares of Tortoise Energy Infrastructure by 118.8% in 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 acquiring an additional 569,441 shares in the last quarter. Cetera Investment Advisers raised its holdings in Tortoise Energy Infrastructure by 7.7% in the fourth quarter. Cetera Investment Advisers now owns 10,870 shares of the financial services provider's stock worth $457,000 after purchasing an additional 776 shares in the last quarter. Bulldog Investors LLP purchased a new position in Tortoise Energy Infrastructure during the fourth quarter valued at $7,997,000. Cahill Financial Advisors Inc. purchased a new position in Tortoise Energy Infrastructure during the fourth quarter valued at $935,000. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter valued at $272,000. 32.50% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Stock Down 0.5%

Shares of NYSE:TYG traded down $0.19 during midday trading on Friday, reaching $40.27. The company's stock had a trading volume of 57,157 shares, compared to its average volume of 60,975. The firm has a 50 day moving average of $40.26 and a 200-day moving average of $42.69. Tortoise Energy Infrastructure Co. has a 12-month low of $32.50 and a 12-month high of $48.76.

Tortoise Energy Infrastructure Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 22nd will be issued a $0.365 dividend. This represents a $4.38 dividend on an annualized basis and a yield of 10.88%. The ex-dividend date is Friday, August 22nd.

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.