Saba Capital Management L.P. Purchases 569,441 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG)

Saba Capital Management L.P. boosted its stake in Tortoise Energy Infrastructure Co. (NYSE:TYG - Free Report) by 118.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,048,879 shares of the financial services provider's stock after buying an additional 569,441 shares during the quarter. Tortoise Energy Infrastructure makes up 1.0% of Saba Capital Management L.P.'s investment portfolio, making the stock its 21st largest holding. Saba Capital Management L.P. owned 9.74% of Tortoise Energy Infrastructure worth $44,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in shares of Tortoise Energy Infrastructure during the 4th quarter valued at $25,000. Noble Wealth Management PBC bought a new position in Tortoise Energy Infrastructure during the fourth quarter valued at about $30,000. Hartford Financial Management Inc. increased its holdings in Tortoise Energy Infrastructure by 37.5% during the fourth quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider's stock worth $34,000 after buying an additional 219 shares during the last quarter. Comerica Bank raised its position 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 acquiring an additional 459 shares during the period. Finally, Principal Securities Inc. purchased a new position in Tortoise Energy Infrastructure in the fourth quarter valued at about $46,000. 32.50% of the stock is currently owned by institutional investors.

Tortoise Energy Infrastructure Stock Down 0.8%

Shares of Tortoise Energy Infrastructure stock traded down $0.34 on Thursday, reaching $40.45. 31,799 shares of the company traded hands, compared to its average volume of 60,774. The company has a 50 day moving average of $40.39 and a 200 day moving average of $42.69. Tortoise Energy Infrastructure Co. has a 52 week low of $32.50 and a 52 week high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The company 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 dividend of $0.365 per share. This represents a $4.38 annualized dividend and a yield of 10.83%. The ex-dividend date is Friday, August 22nd.

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.