Creative Planning Decreases Position in Tortoise MLP Fund Inc (NTG)

Creative Planning lowered its stake in Tortoise MLP Fund Inc (NYSE:NTG) by 41.8% during the third quarter, Holdings Channel reports. The institutional investor owned 13,594 shares of the investment management company’s stock after selling 9,770 shares during the period. Creative Planning’s holdings in Tortoise MLP Fund were worth $219,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cahill Financial Advisors Inc. grew its stake in Tortoise MLP Fund by 20.9% in the 2nd quarter. Cahill Financial Advisors Inc. now owns 72,618 shares of the investment management company’s stock valued at $1,240,000 after buying an additional 12,567 shares during the last quarter. Garner Asset Management Corp grew its stake in Tortoise MLP Fund by 51.1% in the 2nd quarter. Garner Asset Management Corp now owns 154,920 shares of the investment management company’s stock valued at $1,771,000 after buying an additional 52,360 shares during the last quarter. Sterling Capital Management LLC grew its stake in Tortoise MLP Fund by 4.2% in the 2nd quarter. Sterling Capital Management LLC now owns 81,375 shares of the investment management company’s stock valued at $1,389,000 after buying an additional 3,300 shares during the last quarter. Tocqueville Asset Management L.P. grew its stake in Tortoise MLP Fund by 9.3% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 87,960 shares of the investment management company’s stock valued at $1,501,000 after buying an additional 7,500 shares during the last quarter. Finally, Oxbow Advisors LLC grew its stake in Tortoise MLP Fund by 4.4% in the 2nd quarter. Oxbow Advisors LLC now owns 657,864 shares of the investment management company’s stock valued at $11,230,000 after buying an additional 27,451 shares during the last quarter.

In other Tortoise MLP Fund news, major shareholder Prudential Financial Inc bought 48,000,000 shares of the firm’s stock in a transaction on Tuesday, October 16th. The shares were purchased at an average price of $8,375,000.00 per share, for a total transaction of $402,000,000,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NTG opened at $14.81 on Friday. Tortoise MLP Fund Inc has a 52 week low of $14.06 and a 52 week high of $21.09.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 23rd will be given a dividend of $0.423 per share. The ex-dividend date of this dividend is Wednesday, November 21st. This represents a $1.69 dividend on an annualized basis and a dividend yield of 11.42%.

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Tortoise MLP Fund Company Profile

Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.

Further Reading: Retained Earnings

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Institutional Ownership by Quarter for Tortoise MLP Fund (NYSE:NTG)

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