American Financial Group Inc. grew its holdings in Tortoise Energy Infrastructure Corp. (NYSE:TYG) by 89.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 471,683 shares of the financial services provider’s stock after purchasing an additional 222,967 shares during the quarter. Tortoise Energy Infrastructure makes up approximately 1.5% of American Financial Group Inc.’s portfolio, making the stock its 26th largest holding. American Financial Group Inc.’s holdings in Tortoise Energy Infrastructure were worth $13,717,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $1,670,000. Wetherby Asset Management Inc. acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $523,000. LLBH Private Wealth Management LLC acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $1,750,000. Raymond James Financial Services Advisors Inc. grew its position in shares of Tortoise Energy Infrastructure by 30.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 216,596 shares of the financial services provider’s stock valued at $6,299,000 after purchasing an additional 50,049 shares during the last quarter. Finally, Wealth Advisors of Tampa Bay LLC acquired a new stake in shares of Tortoise Energy Infrastructure in the fourth quarter valued at approximately $3,632,000. Institutional investors and hedge funds own 29.51% of the company’s stock.
In other Tortoise Energy Infrastructure news, insider Matthew Sallee purchased 5,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were acquired at an average cost of $25.47 per share, for a total transaction of $127,350.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Terry Matlack bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were purchased at an average price of $26.13 per share, for a total transaction of $26,130.00. The disclosure for this purchase can be found here. Insiders bought 10,537 shares of company stock worth $278,434 over the last quarter. Company insiders own 0.33% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st will be given a $0.655 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $2.62 annualized dividend and a dividend yield of 8.69%.
About Tortoise Energy Infrastructure
Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.
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