Short Interest in Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Decreases By 53.7%

Tortoise Energy Independence Fund, Inc. (NYSE:NDPGet Free Report) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,900 shares, a decline 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.

Tortoise Energy Independence Fund Price Performance

Tortoise Energy Independence Fund stock traded up $0.72 during trading on Monday, hitting $29.29. The stock had a trading volume of 5,132 shares, compared to its average volume of 7,129. Tortoise Energy Independence Fund has a 1 year low of $25.81 and a 1 year high of $32.84. The stock’s 50 day moving average is $28.71 and its two-hundred day moving average is $30.28.

Tortoise Energy Independence Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 22nd will be paid 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.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NDP. City of London Investment Management Co. Ltd. grew its position in shares of Tortoise Energy Independence Fund by 49.8% in the 4th quarter. City of London Investment Management Co. Ltd. now owns 11,810 shares of the company’s stock worth $338,000 after buying an additional 3,926 shares during the last quarter. Matisse Capital bought a new stake in Tortoise Energy Independence Fund in the fourth quarter valued at $759,000. Wolverine Asset Management LLC increased its position 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 valued at $850,000 after purchasing an additional 10,025 shares during the period. Cornerstone Advisors LLC purchased a new position in Tortoise Energy Independence Fund during the 3rd quarter valued at $149,000. Finally, Blue Bell Private Wealth Management LLC raised its holdings in Tortoise Energy Independence Fund by 99.4% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 9,328 shares of the company’s stock worth $295,000 after purchasing an additional 4,649 shares in the last quarter.

Tortoise Energy Independence Fund Company Profile

(Get Free Report)

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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