Kayne Anderson Energy Infrastructure Fund (NYSE:KYN) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.67 and traded as high as $14.92. Kayne Anderson Energy Infrastructure Fund shares last traded at $14.77, with a volume of 403,790 shares changing hands.

Kayne Anderson Energy Infrastructure Fund Price Performance

The company’s 50 day simple moving average is $14.01 and its 200 day simple moving average is $13.67.

Kayne Anderson Energy Infrastructure Fund Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.09 dividend. This represents a c) dividend on an annualized basis and a yield of 7.3%. This is a boost from Kayne Anderson Energy Infrastructure Fund’s previous monthly dividend of $0.09. The ex-dividend date is Wednesday, July 15th.

Insider Buying and Selling

In related news, President James C. Baker bought 25,000 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average cost of $13.57 per share, with a total value of $339,250.00. Following the purchase, the president directly owned 1,003,019 shares of the company’s stock, valued at $13,610,967.83. This trade represents a 2.56% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Michael J. Hennigan purchased 15,000 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were bought at an average price of $13.57 per share, for a total transaction of $203,550.00. Following the acquisition, the director owned 20,000 shares in the company, valued at $271,400. This trade represents a 300.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 51,121 shares of company stock valued at $695,781.

Institutional Trading of Kayne Anderson Energy Infrastructure Fund

Several hedge funds have recently added to or reduced their stakes in KYN. Morgan Stanley grew its holdings in Kayne Anderson Energy Infrastructure Fund by 1.3% during the 4th quarter. Morgan Stanley now owns 10,143,636 shares of the financial services provider’s stock worth $125,578,000 after acquiring an additional 131,366 shares in the last quarter. Bank of America Corp DE increased its position in shares of Kayne Anderson Energy Infrastructure Fund by 5.8% in the 2nd quarter. Bank of America Corp DE now owns 4,667,222 shares of the financial services provider’s stock valued at $59,367,000 after purchasing an additional 256,721 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Kayne Anderson Energy Infrastructure Fund by 7.3% in the 4th quarter. Wells Fargo & Company MN now owns 2,985,262 shares of the financial services provider’s stock valued at $36,958,000 after purchasing an additional 203,027 shares in the last quarter. Brown Advisory Inc. acquired a new stake in shares of Kayne Anderson Energy Infrastructure Fund in the 4th quarter valued at $33,366,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Kayne Anderson Energy Infrastructure Fund by 2.3% during the 4th quarter. Advisors Asset Management Inc. now owns 1,842,657 shares of the financial services provider’s stock worth $22,812,000 after purchasing an additional 40,966 shares during the last quarter.

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.