Pegasus Partners Ltd. bought a new position in Tortoise MLP Fund, Inc. (NYSE:NTG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 50,562 shares of the investment management company’s stock, valued at approximately $888,000. Pegasus Partners Ltd. owned approximately 0.11% of Tortoise MLP Fund as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Oxbow Advisors LLC increased its holdings in Tortoise MLP Fund by 27.6% in the 3rd quarter. Oxbow Advisors LLC now owns 595,082 shares of the investment management company’s stock worth $10,783,000 after purchasing an additional 128,834 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Tortoise MLP Fund by 213.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 189,461 shares of the investment management company’s stock worth $3,433,000 after purchasing an additional 129,105 shares in the last quarter. Diversified Trust Co acquired a new position in Tortoise MLP Fund in the 4th quarter worth about $2,588,000. Cetera Investment Advisers acquired a new position in Tortoise MLP Fund in the 2nd quarter worth about $442,000. Finally, Northern Capital Management LLC increased its stake in shares of Tortoise MLP Fund by 43.9% in the third quarter. Northern Capital Management LLC now owns 159,660 shares of the investment management company’s stock valued at $2,893,000 after buying an additional 48,720 shares during the period.
Shares of Tortoise MLP Fund, Inc. (NYSE:NTG) opened at $19.53 on Wednesday. Tortoise MLP Fund, Inc. has a one year low of $14.91 and a one year high of $21.84.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st will be paid a $0.4225 dividend. The ex-dividend date is Tuesday, February 20th. This represents a $1.69 annualized dividend and a dividend yield of 8.65%.
In related news, major shareholder Prudential Financial Inc purchased 32,000,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was bought at an average price of $26,562,500.00 per share, with a total value of $850,000,000,000,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders bought 32,003,250 shares of company stock valued at $850,000,000,052,530.
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About Tortoise MLP Fund
Tortoise MLP Fund, Inc is a non-diversified, closed-end management investment company. The Fund’s primary investment objective is to seek a high level of total return with an emphasis on current distributions. It invests primarily in master limited partnerships (MLPs) and their affiliates that own and operate a network of pipeline and energy-related logistical infrastructure assets.
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