Tortoise Energy Infrastructure Corporation (NYSE:TYG) Short Interest Up 761.9% in May

Tortoise Energy Infrastructure Corporation (NYSE:TYG) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 1,152,034 shares, an increase of 761.9% from the April 30th total of 133,661 shares. Based on an average trading volume of 260,420 shares, the short-interest ratio is currently 4.4 days. Approximately 5.5% of the shares of the stock are sold short.

Tortoise Energy Infrastructure Price Performance

Shares of TYG stock traded down $0.51 during midday trading on Friday, reaching $44.04. 194,776 shares of the company traded hands, compared to its average volume of 229,502. The firm’s 50 day simple moving average is $47.69 and its two-hundred day simple moving average is $45.75. Tortoise Energy Infrastructure has a 1-year low of $40.00 and a 1-year high of $51.18.

Tortoise Energy Infrastructure Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be given a dividend of $0.475 per share. This represents a c) annualized dividend and a dividend yield of 12.9%. The ex-dividend date is Monday, August 24th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TYG. Integrated Wealth Concepts LLC acquired a new position in shares of Tortoise Energy Infrastructure during the 1st quarter worth approximately $242,000. NewEdge Advisors LLC raised its position in shares of Tortoise Energy Infrastructure by 9.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,723 shares of the financial services provider’s stock worth $246,000 after purchasing an additional 500 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Tortoise Energy Infrastructure during the 2nd quarter worth approximately $203,000. Raymond James Financial Inc. raised its position in shares of Tortoise Energy Infrastructure by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 293,042 shares of the financial services provider’s stock worth $12,862,000 after purchasing an additional 36,313 shares during the last quarter. Finally, MGB Wealth Management LLC raised its position in shares of Tortoise Energy Infrastructure by 2.6% during the 2nd quarter. MGB Wealth Management LLC now owns 23,896 shares of the financial services provider’s stock worth $1,049,000 after purchasing an additional 601 shares during the last quarter. 32.50% of the stock is currently owned by institutional investors and hedge funds.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.