Tortoise Energy Infrastructure Corporation (NYSE:TYG) Sees Large Increase in Short Interest

Key Points

• Tortoise Energy Infrastructure Corporation (NYSE:TYG) experienced a significant increase in short interest, rising by 196.7% from June to July, totaling 44,800 shares.
• The company's recent dividend announcement included a payout of $0.365 per share, yielding an impressive 1,011.0%.
• Institutional ownership in Tortoise Energy Infrastructure stands at 32.50%, with various hedge funds adjusting their stakes in the stock.

Tortoise Energy Infrastructure Corporation (NYSE:TYG - ) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 44,800 shares, agrowthof196.7% from the June 30th total of 15,100 shares. Based on an average trading volume of 67,900 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 67,900 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Hedge funds have recently added to or reduced their stakes in the stock. MGB Wealth Management LLC raised its stake in shares of Tortoise Energy Infrastructure by 1.1% in the first quarter. MGB Wealth Management LLC now owns 23,295 shares of the financial services provider's stock worth $1,003,000 after purchasing an additional 258 shares during the last quarter. Comerica Bank increased its position in Tortoise Energy Infrastructure by 95.0% during the fourth quarter. Comerica Bank now owns 942 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 459 shares during the last quarter. NewEdge Advisors LLC increased its position in Tortoise Energy Infrastructure by 9.6% during the first quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider's stock valued at $246,000 after acquiring an additional 500 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in Tortoise Energy Infrastructure during the fourth quarter valued at $25,000. Finally, Jaffetilchin Investment Partners LLC increased its position in Tortoise Energy Infrastructure by 13.3% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 5,239 shares of the financial services provider's stock valued at $220,000 after acquiring an additional 613 shares during the last quarter. 32.50% of the stock is owned by institutional investors.

Tortoise Energy Infrastructure Price Performance

Tortoise Energy Infrastructure stock opened at $43.22 on Monday. The business's fifty day simple moving average is $42.37 and its two-hundred day simple moving average is $42.24. Tortoise Energy Infrastructure has a 12 month low of $33.08 and a 12 month high of $48.76.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, July 31st. Shareholders of record on Friday, July 25th were issued a $0.365 dividend. This represents a yield of 1,011.0%. The ex-dividend date of this dividend was Thursday, July 24th.

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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