Key Points
- Director Michael Hennigan bought 15,000 shares of Kayne Anderson Energy Infrastructure Fund at an average price of $13.57, a transaction worth about $203,550. His stake increased to 20,000 shares, a 300% jump.
- The fund recently declared a monthly dividend of $0.09 per share, payable July 31 to shareholders of record on July 15. The payout implies an annualized yield of about 8.0%.
- KYN opened near $13.56, trading between its 52-week low of $11.31 and high of $14.69, while institutional investors have generally been adding modestly to their positions.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN - Get Free Report) Director Michael Hennigan purchased 5,000 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $13.60 per share, with a total value of $68,000.00. Following the transaction, the director owned 5,000 shares in the company, valued at $68,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Kayne Anderson Energy Infrastructure Fund Price Performance
KYN opened at $13.56 on Thursday. The firm has a 50 day simple moving average of $13.83 and a 200 day simple moving average of $13.41. Kayne Anderson Energy Infrastructure Fund, Inc. has a fifty-two week low of $11.31 and a fifty-two week high of $14.69.
Kayne Anderson Energy Infrastructure Fund Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 8.0%. This is a boost from Kayne Anderson Energy Infrastructure Fund's previous monthly dividend of $0.09.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP grew its stake in shares of Kayne Anderson Energy Infrastructure Fund by 5,166.7% during the fourth quarter. Allworth Financial LP now owns 3,160 shares of the financial services provider's stock worth $39,000 after purchasing an additional 3,100 shares during the period. International Assets Investment Management LLC acquired a new position in Kayne Anderson Energy Infrastructure Fund in the fourth quarter valued at about $61,000. JPMorgan Chase & Co. boosted its holdings in Kayne Anderson Energy Infrastructure Fund by 114,616.7% during the second quarter. JPMorgan Chase & Co. now owns 6,883 shares of the financial services provider's stock worth $88,000 after buying an additional 6,877 shares during the last quarter. Brown Advisory Inc. bought a new position in Kayne Anderson Energy Infrastructure Fund during the second quarter worth about $105,000. Finally, Fortis Capital Management LLC bought a new position in Kayne Anderson Energy Infrastructure Fund during the fourth quarter worth about $124,000.
Kayne Anderson Energy Infrastructure Fund Company Profile
(
Get Free Report)
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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