Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN – Get Free Report) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 116,327 shares, a drop of 49.3% from the March 15th total of 229,411 shares. Based on an average trading volume of 379,893 shares, the days-to-cover ratio is presently 0.3 days.
Insiders Place Their Bets
In other Kayne Anderson Energy Infrastructure Fund news, EVP Harrison James Little bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 19th. The shares were bought at an average price of $14.12 per share, for a total transaction of $70,600.00. Following the acquisition, the executive vice president directly owned 15,599 shares of the company’s stock, valued at approximately $220,257.88. This trade represents a 47.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President James C. Baker bought 25,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was acquired at an average price of $13.67 per share, for a total transaction of $341,750.00. Following the acquisition, the president directly owned 978,019 shares in the company, valued at $13,369,519.73. This trade represents a 2.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders purchased 61,100 shares of company stock worth $847,904.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of KYN. Bessemer Group Inc. purchased a new stake in shares of Kayne Anderson Energy Infrastructure Fund during the 3rd quarter worth about $31,000. Allworth Financial LP grew its stake in shares of Kayne Anderson Energy Infrastructure Fund by 5,166.7% in the 4th quarter. Allworth Financial LP now owns 3,160 shares of the financial services provider’s stock valued at $39,000 after buying an additional 3,100 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Kayne Anderson Energy Infrastructure Fund in the 4th quarter valued at approximately $61,000. JPMorgan Chase & Co. grew its stake in shares of Kayne Anderson Energy Infrastructure Fund by 114,616.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,883 shares of the financial services provider’s stock valued at $88,000 after buying an additional 6,877 shares in the last quarter. Finally, Brown Advisory Inc. acquired a new position in Kayne Anderson Energy Infrastructure Fund in the second quarter worth approximately $105,000.
Kayne Anderson Energy Infrastructure Fund Stock Down 0.8%
Kayne Anderson Energy Infrastructure Fund Announces Dividend
The company also recently disclosed a monthly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, April 15th will be issued a dividend of $0.085 per share. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Wednesday, April 15th.
Kayne Anderson Energy Infrastructure Fund Company Profile
The Kayne Anderson Energy Infrastructure Fund, Inc (NYSE: KYN) is a closed-end management investment company that focuses on energy infrastructure assets. The fund’s portfolio is primarily composed of equity securities of publicly traded partnerships—including master limited partnerships (MLPs)—and other energy-related companies. Key sectors in its midstream-oriented strategy include the transportation, storage, processing and distribution of natural gas, crude oil and refined products.
Since commencing operations in 2014, Kayne Anderson Energy Infrastructure Fund has pursued a dual objective of current income generation and long-term capital appreciation.
Further Reading
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