Tortoise Energy Independence Fund (NYSE:NDP) Shares Down 1.9%

Shares of Tortoise Energy Independence Fund, Inc. (NYSE:NDP) fell 1.9% during trading on Thursday . The company traded as low as $34.61 and last traded at $34.71. 2,928 shares changed hands during trading, a decline of 41% from the average session volume of 4,926 shares. The stock had previously closed at $35.38.

Tortoise Energy Independence Fund Stock Performance

The stock has a 50-day simple moving average of $34.76 and a 200 day simple moving average of $32.90.

Tortoise Energy Independence Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 24th were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, May 23rd. This represents a $2.52 annualized dividend and a dividend yield of 7.58%.

Hedge Funds Weigh In On Tortoise Energy Independence Fund

Hedge funds have recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC boosted its position 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 worth $364,000 after purchasing an additional 1,451 shares during the period. City of London Investment Management Co. Ltd. grew 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 valued at $338,000 after buying an additional 3,926 shares during the last quarter. 1607 Capital Partners LLC grew its stake in 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 buying an additional 9,277 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in 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 worth $850,000 after acquiring an additional 10,025 shares during the period. Finally, Bulldog Investors LLP lifted its position in Tortoise Energy Independence Fund by 21.3% during the 4th quarter. Bulldog Investors LLP now owns 103,405 shares of the company’s stock worth $2,964,000 after acquiring an additional 18,140 shares during the last quarter.

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.