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

Tortoise Energy Independence Fund, Inc. (NYSE:NDP)’s stock price was down 1.5% during trading on Tuesday . The stock traded as low as $32.73 and last traded at $32.99. Approximately 3,525 shares traded hands during mid-day 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 Down 1.5 %

The stock has a fifty day moving average price of $31.90 and a two-hundred day moving average price of $30.49.

Tortoise Energy Independence Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 22nd were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 7.64%. The ex-dividend date of this dividend was Wednesday, February 21st.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NDP. UBS Group AG lifted its holdings in Tortoise Energy Independence Fund by 30.9% in the third quarter. UBS Group AG now owns 6,230 shares of the company’s stock worth $176,000 after purchasing an additional 1,471 shares during the period. Bank of America Corp DE boosted its holdings in shares of Tortoise Energy Independence Fund by 5.2% in the first quarter. Bank of America Corp DE now owns 35,243 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,732 shares in the last quarter. Morgan Stanley increased its stake in shares of Tortoise Energy Independence Fund by 17.6% during the fourth quarter. Morgan Stanley now owns 18,805 shares of the company’s stock valued at $548,000 after acquiring an additional 2,821 shares during the period. City of London Investment Management Co. Ltd. raised its holdings in Tortoise Energy Independence Fund by 49.8% during the fourth quarter. City of London Investment Management Co. Ltd. now owns 11,810 shares of the company’s stock worth $338,000 after purchasing an additional 3,926 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its position in Tortoise Energy Independence Fund by 99.4% in the third 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 during the period.

About Tortoise Energy Independence Fund

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.