Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Sees Large Drop in Short Interest

Tortoise Energy Independence Fund, Inc. (NYSE:NDPGet Free Report) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 1,900 shares, a decrease of 53.7% from the January 15th total of 4,100 shares. Based on an average daily trading volume, of 11,300 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Tortoise Energy Independence Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Bulldog Investors LLP raised its stake in Tortoise Energy Independence Fund by 84.6% during the 2nd quarter. Bulldog Investors LLP now owns 81,639 shares of the company’s stock worth $2,347,000 after acquiring an additional 37,410 shares in the last quarter. Sit Investment Associates Inc. acquired a new stake in Tortoise Energy Independence Fund during the 2nd quarter worth $1,371,000. Bank of America Corp DE raised its stake in Tortoise Energy Independence Fund by 5.2% during the 1st quarter. Bank of America Corp DE now owns 35,243 shares of the company’s stock worth $1,046,000 after acquiring an additional 1,732 shares in the last quarter. Wolverine Asset Management LLC raised its stake in Tortoise Energy Independence Fund by 51.1% during the 4th quarter. Wolverine Asset Management LLC now owns 29,662 shares of the company’s stock worth $850,000 after acquiring an additional 10,025 shares in the last quarter. Finally, Matisse Capital acquired a new position in Tortoise Energy Independence Fund during the fourth quarter worth approximately $759,000.

Tortoise Energy Independence Fund Price Performance

Tortoise Energy Independence Fund stock traded up $0.72 during mid-day trading on Monday, reaching $29.29. 5,132 shares of the company’s stock were exchanged, compared to its average volume of 7,129. Tortoise Energy Independence Fund has a twelve month low of $25.81 and a twelve month high of $32.84. The company has a fifty day moving average of $28.71 and a 200-day moving average of $30.28.

Tortoise Energy Independence Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Shareholders of record on Thursday, February 22nd will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 8.60%. The ex-dividend date is Wednesday, February 21st.

Tortoise Energy Independence Fund Company Profile

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Tortoise Energy Independence Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the North American. It seeks to invest primarily in the energy sector. The fund employs a fundamental analysis with a bottom up stock picking approach with focus on factors like quantitative, qualitative, and relative value factors to create its portfolio.

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