Tortoise Energy Independence Fund Inc (NYSE:NDP) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $8.46 and last traded at $8.59, with a volume of 1340 shares traded. The stock had previously closed at $9.12.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 30th. Stockholders of record on Friday, November 23rd were given a $0.438 dividend. This represents a $1.75 dividend on an annualized basis and a dividend yield of 20.09%. The ex-dividend date of this dividend was Wednesday, November 21st.
Several institutional investors have recently modified their holdings of NDP. Private Advisor Group LLC acquired a new stake in Tortoise Energy Independence Fund in the 2nd quarter worth approximately $471,000. Wells Fargo & Company MN boosted its stake in Tortoise Energy Independence Fund by 9.6% in the 3rd quarter. Wells Fargo & Company MN now owns 57,388 shares of the company’s stock worth $704,000 after purchasing an additional 5,040 shares in the last quarter. Raymond James & Associates boosted its stake in Tortoise Energy Independence Fund by 218.6% in the 2nd quarter. Raymond James & Associates now owns 89,402 shares of the company’s stock worth $1,128,000 after purchasing an additional 61,343 shares in the last quarter. Bank of America Corp DE boosted its stake in Tortoise Energy Independence Fund by 35.1% in the 2nd quarter. Bank of America Corp DE now owns 170,445 shares of the company’s stock worth $2,151,000 after purchasing an additional 44,245 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Tortoise Energy Independence Fund by 6.0% in the 3rd quarter. Morgan Stanley now owns 219,126 shares of the company’s stock worth $2,689,000 after purchasing an additional 12,411 shares in the last quarter.
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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.
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