Tortoise Energy Shares Plunged: What You Need to Know (TYG)

Tortoise Energy Shares Plunged: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Tortoise Energy Infrastructure (NYSE: TYG ) fell 10% briefly today after a big trade hit the market.

So what: The day was moving along quietly when suddenly just after 1 p.m. ET more than 100,000 shares traded hands in just a few minutes. Three-month average daily volume is just 62,000 shares, and the move has helped send volume over 300,000 for the day with an hour left in the trading day.

Now what: There was no news from the company today, but the market was obviously spooked by the sudden selling. Shares are only down just 4% for the day as I’m writing, so I wouldn’t panic too much today. Blame it on our mythical friend called Fat Finger Freddy, who types a few extra digits in his trading machine every once in a while, giving us a wild intraday move.

Interested in more info on Tortoise Energy? Add it to your watchlist.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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