Raymond James Financial Services Advisors Inc. Has $523,000 Position in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Raymond James Financial Services Advisors Inc. trimmed its position in Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) by 63.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,185 shares of the financial services provider's stock after selling 31,920 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.16% of Tortoise Energy Infrastructure worth $523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mutual Advisors LLC acquired a new stake in Tortoise Energy Infrastructure during the 4th quarter worth approximately $650,000. Royal Bank of Canada increased its position in Tortoise Energy Infrastructure by 1.9% during the 3rd quarter. Royal Bank of Canada now owns 110,269 shares of the financial services provider's stock worth $3,186,000 after purchasing an additional 2,101 shares in the last quarter. Advisors Asset Management Inc. increased its position in Tortoise Energy Infrastructure by 27.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 224,356 shares of the financial services provider's stock worth $6,484,000 after purchasing an additional 48,167 shares in the last quarter. Saba Capital Management L.P. increased its position in Tortoise Energy Infrastructure by 16.1% during the 3rd quarter. Saba Capital Management L.P. now owns 464,622 shares of the financial services provider's stock worth $13,428,000 after purchasing an additional 64,461 shares in the last quarter. Finally, LPL Financial LLC increased its position in Tortoise Energy Infrastructure by 15.1% during the 3rd quarter. LPL Financial LLC now owns 64,708 shares of the financial services provider's stock worth $1,870,000 after purchasing an additional 8,478 shares in the last quarter. 32.50% of the stock is currently owned by hedge funds and other institutional investors.

Tortoise Energy Infrastructure Stock Up 2.7 %

TYG traded up $0.83 on Friday, reaching $31.33. 38,936 shares of the company's stock were exchanged, compared to its average volume of 44,124. The company's 50 day moving average is $29.98 and its 200-day moving average is $29.01. Tortoise Energy Infrastructure Co. has a twelve month low of $26.72 and a twelve month high of $31.89.

Tortoise Energy Infrastructure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 9.06%. The ex-dividend date of this dividend was Wednesday, February 21st.

Tortoise Energy Infrastructure 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.