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

Shares of Tortoise Energy Independence Fund, Inc. (NYSE:NDP) were down 1.5% during trading on Tuesday . The company traded as low as $32.73 and last traded at $32.99. Approximately 3,525 shares were traded 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 company 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 Announces Dividend

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

Hedge Funds Weigh In On Tortoise Energy Independence Fund

A number of hedge funds have recently made changes to their positions in NDP. Matisse Capital bought a new stake in Tortoise Energy Independence Fund in the fourth quarter valued at about $759,000. Bulldog Investors LLP boosted its holdings in 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 purchasing an additional 18,140 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of Tortoise Energy Independence Fund by 51.1% in 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. 1607 Capital Partners LLC raised its holdings 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 worth $2,272,000 after buying an additional 9,277 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Tortoise Energy Independence Fund by 92.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,961 shares of the company’s stock worth $563,000 after buying an additional 9,118 shares in the last quarter.

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.