Tortoise Energy Independence Fund (NYSE:NDP) Shares Down 1.5%

Tortoise Energy Independence Fund, Inc. (NYSE:NDP)’s stock price dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as $32.73 and last traded at $32.99. Approximately 3,525 shares traded hands during trading, a decline of 33% from the average daily volume of 5,270 shares. The stock had previously closed at $33.49.

Tortoise Energy Independence Fund Trading Up 0.1 %

The company has a fifty day moving average of $32.08 and a 200-day moving average of $30.53.

Tortoise Energy Independence Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 22nd were issued a dividend of $0.63 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.52 annualized dividend and a dividend yield of 7.57%.

Institutional Trading of Tortoise Energy Independence Fund

A number of institutional investors have recently added to or reduced their stakes in NDP. Matisse Capital acquired a new stake in Tortoise Energy Independence Fund in the fourth quarter valued at approximately $759,000. Bulldog Investors LLP increased its holdings in shares of Tortoise Energy Independence Fund by 21.3% during the 4th quarter. Bulldog Investors LLP now owns 103,405 shares of the company’s stock valued at $2,964,000 after acquiring an additional 18,140 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in shares of 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 valued at $850,000 after acquiring an additional 10,025 shares during the last quarter. 1607 Capital Partners LLC increased its holdings in shares of Tortoise Energy Independence Fund by 13.3% during the 4th quarter. 1607 Capital Partners LLC now owns 79,261 shares of the company’s stock valued at $2,272,000 after acquiring an additional 9,277 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Tortoise Energy Independence Fund by 92.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,961 shares of the company’s stock valued at $563,000 after acquiring an additional 9,118 shares during the last quarter.

Tortoise Energy Independence Fund Company Profile

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.