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

Tortoise Energy Infrastructure Co. (NYSE:TYG) announced a dividend of $0.365 per share on March 24th. Shareholders who are on record as of March 25th will receive this dividend on March 31st. This announcement reflects a dividend yield of 10%. It is important to note that the ex-dividend date is also set for March 24th.

Current Stock Performance

On the same day of the announcement, Tortoise Energy Infrastructure shares dipped by $0.15, resulting in a trading value of $43.66. The transaction volume for the day was 53,616 shares, which is slightly below the average volume of 55,323 shares. The stock has a 50-day moving average of $44.41 and a 200-day moving average of $42.56. Over the past year, its lowest price was $29.54, while the highest was $48.76.

Recent Insider Transactions

In related news, Saba Capital Management, a major shareholder, sold 5,667 shares of TYG on December 30th at an average price of $41.61. This transaction totaled approximately $235,803.87. After this sale, the insider retains ownership of 1,061,234 shares, valued at around $44,157,946.74, marking a 0.53% decrease in their holdings. This transaction has been reported in a filing with the Securities and Exchange Commission.

Overview of Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corporation is a closed-end equity mutual fund that is managed by Tortoise Capital Advisors LLC. The fund primarily invests in public equity markets in the United States, focusing on companies within the energy infrastructure sector. Their investments target companies involved in various activities such as transporting, processing, storing, and marketing commodities like natural gas, crude oil, and petroleum products.

dividend, stocks, energy