Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Sees Significant Decrease in Short Interest

Tortoise Energy Independence Fund, Inc. (NYSE:NDP) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 1,800 shares, a decline of 35.7% from the October 31st total of 2,800 shares. Based on an average trading volume of 6,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NDP. Bayshore Asset Management LLC bought a new stake in shares of Tortoise Energy Independence Fund in the 3rd quarter worth approximately $714,000. Almitas Capital LLC purchased a new position in shares of Tortoise Energy Independence Fund in the 2nd quarter worth about $546,000. Blue Bell Private Wealth Management LLC boosted its stake in Tortoise Energy Independence Fund by 18.5% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 12,807 shares of the company’s stock worth $463,000 after purchasing an additional 2,001 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in Tortoise Energy Independence Fund during the 3rd quarter valued at about $148,000. Finally, Quarry LP purchased a new position in Tortoise Energy Independence Fund in the third quarter worth about $131,000.

Tortoise Energy Independence Fund Stock Up 0.9 %

Shares of NYSE:NDP traded up $0.39 on Thursday, reaching $43.99. 18,253 shares of the company traded hands, compared to its average volume of 5,682. Tortoise Energy Independence Fund has a 52 week low of $27.38 and a 52 week high of $45.40. The business’s 50-day simple moving average is $40.53 and its 200 day simple moving average is $37.36.

Tortoise Energy Independence Fund Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be given a $0.255 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 5.8%.

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.