Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Short Interest Up 212.5% in October

Tortoise Energy Independence Fund, Inc. (NYSE:NDP) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 5,000 shares, a growth of 212.5% from the September 30th total of 1,600 shares. Based on an average daily volume of 7,400 shares, the short-interest ratio is currently 0.7 days.

Tortoise Energy Independence Fund Stock Performance

NYSE:NDP remained flat at $39.20 during mid-day trading on Friday. The company’s stock had a trading volume of 855 shares, compared to its average volume of 5,728. The company has a 50 day moving average of $38.51 and a two-hundred day moving average of $36.02. Tortoise Energy Independence Fund has a twelve month low of $27.38 and a twelve month high of $41.07.

Tortoise Energy Independence Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 6.43%. The ex-dividend date of this dividend was Friday, August 23rd.

Institutional Trading of Tortoise Energy Independence Fund

Several hedge funds have recently bought and sold shares of NDP. Blue Bell Private Wealth Management LLC grew its holdings in Tortoise Energy Independence Fund by 18.5% during the second quarter. Blue Bell Private Wealth Management LLC now owns 12,807 shares of the company’s stock valued at $463,000 after purchasing an additional 2,001 shares during the period. Almitas Capital LLC bought a new stake in Tortoise Energy Independence Fund during the second quarter valued at about $546,000. Finally, Bayshore Asset Management LLC bought a new stake in Tortoise Energy Independence Fund during the third quarter valued at about $714,000.

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.