Tortoise Energy Infrastructure Co. (NYSE:TYG) Announces $0.37 Dividend

Tortoise Energy Infrastructure Co. (NYSE:TYG) recently declared a dividend, as announced on Monday, March 24th. The company will pay a dividend of $0.365 per share to shareholders who are on record as of Tuesday, March 25th. This payment will be made on Monday, March 31st, and the announced dividend provides a notable yield of 10%. The ex-dividend date for this payment is set for March 24th.

Tortoise Energy Infrastructure Stock Movement

On the trading floor, shares of Tortoise Energy Infrastructure (NYSE:TYG) fell by $0.15, bringing the stock price down to $43.66 on that Monday. In total, 53,616 shares changed hands during the trading session, which is somewhat below the average volume of 55,323 shares. Over a longer period, TYG shows a 50-day moving average price of $44.41, and the 200-day moving average stands at $42.56. The stock has experienced significant fluctuations, with a 1-year low recorded at $29.54 and a high of $48.76.

Insider Trading Activity

In related news, a key shareholder, Saba Capital Management, L.P., executed the sale of 5,667 shares on December 30th. The shares were sold at an average price of $41.61, resulting in a total transaction value of approximately $235,803.87. After this sale, the insider's direct ownership consists of around 1,061,234 shares, estimated to be worth about $44,157,946.74. The transaction indicates a slight decrease of 0.53% in their holdings. Details of this trade were made public in a filing with the Securities and Exchange Commission.

Overview of Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corporation operates as a closed-end equity mutual fund, managed by Tortoise Capital Advisors LLC. The fund primarily focuses on investments within the public equity markets of the United States. Its investment approach targets companies that are engaged in various sectors of energy infrastructure, particularly those involved in transporting, processing, storing, distributing, or marketing natural gas, natural gas liquids, coal, crude oil, or refined petroleum products, as well as companies involved in the exploration and development of these commodities.

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