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

Saba Capital Management L.P. boosted its holdings in shares of 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 (SEC). The institutional investor owned 1,048,879 shares of the financial services provider's stock after purchasing an additional 569,441 shares during the period. Tortoise Energy Infrastructure accounts for approximately 1.0% of Saba Capital Management L.P.'s holdings, making the stock its 21st largest holding. Saba Capital Management L.P. owned approximately 9.74% of Tortoise Energy Infrastructure worth $44,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TYG. Advisors Asset Management Inc. grew its stake in shares of Tortoise Energy Infrastructure by 53.8% during the fourth quarter. Advisors Asset Management Inc. now owns 386,221 shares of the financial services provider's stock worth $16,221,000 after purchasing an additional 135,146 shares during the period. Aristides Capital LLC lifted its holdings in shares of Tortoise Energy Infrastructure by 128.7% in the fourth quarter. Aristides Capital LLC now owns 269,253 shares of the financial services provider's stock valued at $11,309,000 after purchasing an additional 151,510 shares in the last quarter. Almitas Capital LLC bought a new stake in Tortoise Energy Infrastructure during the fourth quarter worth about $10,444,000. Wells Fargo & Company MN raised its holdings in Tortoise Energy Infrastructure by 1,713.7% during the fourth quarter. Wells Fargo & Company MN now owns 222,159 shares of the financial services provider's stock worth $9,331,000 after acquiring an additional 209,910 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its holdings in Tortoise Energy Infrastructure by 44.7% during the fourth quarter. Sit Investment Associates Inc. now owns 190,690 shares of the financial services provider's stock worth $8,009,000 after acquiring an additional 58,938 shares in the last quarter. 32.50% of the stock is owned by institutional investors and hedge funds.

Tortoise Energy Infrastructure Price Performance

Shares of NYSE TYG opened at $41.33 on Friday. Tortoise Energy Infrastructure Co. has a twelve month low of $32.50 and a twelve month high of $48.76. The business's 50 day moving average price is $40.42 and its two-hundred day moving average price is $42.67.

Tortoise Energy Infrastructure Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th were paid a dividend of $0.365 per share. This represents a yield of 10%. The ex-dividend date was Monday, March 24th.

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.

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