Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Sees Large Increase in Short Interest

Tortoise Energy Independence Fund, Inc. (NYSE:NDP) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totalling 14,200 shares, an increase of 373.3% from the June 15th total of 3,000 shares. Based on an average trading volume of 4,600 shares, the days-to-cover ratio is presently 3.1 days.

Tortoise Energy Independence Fund Stock Up 0.3 %

Shares of NYSE NDP traded up $0.09 during midday trading on Friday, reaching $35.99. The company’s stock had a trading volume of 1,227 shares, compared to its average volume of 5,008. Tortoise Energy Independence Fund has a one year low of $27.38 and a one year high of $36.50. The company has a 50 day moving average price of $34.42 and a 200 day moving average price of $32.27.

Tortoise Energy Independence Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were issued a $0.63 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $2.52 annualized dividend and a dividend yield of 7.00%.

Institutional Investors Weigh In On Tortoise Energy Independence Fund

Several large investors have recently modified their holdings of NDP. Blue Bell Private Wealth Management LLC lifted its stake in Tortoise Energy Independence Fund by 15.5% during the first quarter. Blue Bell Private Wealth Management LLC now owns 10,806 shares of the company’s stock valued at $364,000 after buying an additional 1,451 shares in the last quarter. Bulldog Investors LLP raised its holdings in shares of Tortoise Energy Independence Fund by 21.3% during the fourth 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 period. 1607 Capital Partners LLC lifted its position in shares of Tortoise Energy Independence Fund by 13.3% in 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 in the last quarter. City of London Investment Management Co. Ltd. boosted its stake in 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 purchasing an additional 3,926 shares during the period. Finally, Matisse Capital acquired a new position in Tortoise Energy Independence Fund in the 4th quarter worth approximately $759,000.

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.