Short Interest in Tortoise Energy Infrastructure Co. (NYSE:TYG) Increases By 31.5%

Tortoise Energy Infrastructure Co. (NYSE:TYG – Get Rating) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 19,200 shares, an increase of 31.5% from the April 15th total of 14,600 shares. Based on an average daily volume of 69,500 shares, the short-interest ratio is currently 0.3 days.

TYG stock traded up $0.45 during trading hours on Tuesday, reaching $32.77. 23,864 shares of the stock were exchanged, compared to its average volume of 77,961. The firm’s 50-day moving average is $33.31 and its 200-day moving average is $30.67. Tortoise Energy Infrastructure has a 12 month low of $24.77 and a 12 month high of $36.85.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 24th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 8.67%. The ex-dividend date of this dividend is Monday, May 23rd.

Hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates increased its holdings in Tortoise Energy Infrastructure by 183.3% during the 3rd quarter. Raymond James & Associates now owns 68,029 shares of the financial services provider’s stock worth $1,844,000 after purchasing an additional 44,014 shares in the last quarter. Quadrant Private Wealth Management LLC increased its holdings in Tortoise Energy Infrastructure by 27.7% during the 4th quarter. Quadrant Private Wealth Management LLC now owns 29,518 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 6,401 shares in the last quarter. Boenning & Scattergood Inc. boosted its stake in shares of Tortoise Energy Infrastructure by 4.8% during the 4th quarter. Boenning & Scattergood Inc. now owns 8,800 shares of the financial services provider’s stock worth $246,000 after buying an additional 400 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter worth about $274,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Tortoise Energy Infrastructure by 1.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 58,057 shares of the financial services provider’s stock worth $1,621,000 after buying an additional 691 shares during the last quarter. Hedge funds and other institutional investors own 33.04% of the company’s stock.

About Tortoise Energy Infrastructure (Get Rating)

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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