Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) Declares Monthly Dividend of $0.09

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) declared a monthly dividend on Monday, May 19th, Wall Street Journal reports. Investors of record on Friday, August 22nd will be given a dividend of 0.09 per share on Friday, August 29th. This represents a $1.08 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date is Friday, August 22nd.

Ecofin Sustainable and Social Impact Term Fund has raised its dividend payment by an average of 5.9% per year over the last three years.

Ecofin Sustainable and Social Impact Term Fund Stock Up 0.6%

Shares of NYSE:TEAF traded up $0.07 on Monday, reaching $11.70. 41,586 shares of the company traded hands, compared to its average volume of 37,300. Ecofin Sustainable and Social Impact Term Fund has a 52 week low of $10.09 and a 52 week high of $13.34. The business’s 50-day simple moving average is $11.25 and its 200 day simple moving average is $11.90.

Insider Buying and Selling at Ecofin Sustainable and Social Impact Term Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 33,116 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was acquired at an average price of $11.31 per share, with a total value of $374,541.96. Following the completion of the purchase, the insider now directly owns 1,383,564 shares in the company, valued at approximately $15,648,108.84. This trade represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders purchased 139,210 shares of company stock worth $1,506,031.

About Ecofin Sustainable and Social Impact Term Fund

Tortoise Essential Assets Income Term Fund is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in equity and fixed income markets. The fund seeks to invest in securities of companies operating in the essential asset sectors, which includes education, housing, healthcare, social and human services, power, water, energy, infrastructure, basic materials, industrial, transportation and telecommunications sectors.