Short Interest in Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Grows By 373.3%

Tortoise Energy Independence Fund, Inc. (NYSE:NDP) saw a significant growth in short interest in June. As of June 30th, there was short interest totalling 14,200 shares, a growth of 373.3% from the June 15th total of 3,000 shares. Based on an average daily volume of 4,600 shares, the short-interest ratio is presently 3.1 days.

Institutional Investors Weigh In On Tortoise Energy Independence Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NDP. Wolverine Asset Management LLC increased its stake in Tortoise Energy Independence Fund by 51.1% during the 4th quarter. Wolverine Asset Management LLC now owns 29,662 shares of the company’s stock worth $850,000 after buying an additional 10,025 shares during the period. Matisse Capital purchased a new stake in Tortoise Energy Independence Fund during the 4th quarter worth $759,000. City of London Investment Management Co. Ltd. increased its stake in Tortoise Energy Independence Fund by 49.8% during the 4th quarter. City of London Investment Management Co. Ltd. now owns 11,810 shares of the company’s stock worth $338,000 after buying an additional 3,926 shares during the period. 1607 Capital Partners LLC grew its holdings in Tortoise Energy Independence Fund by 13.3% during the 4th quarter. 1607 Capital Partners LLC now owns 79,261 shares of the company’s stock worth $2,272,000 after acquiring an additional 9,277 shares in the last quarter. Finally, Bulldog Investors LLP grew its holdings 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 in the last quarter.

Tortoise Energy Independence Fund Stock Up 0.6 %

Shares of NYSE NDP traded up $0.22 on Thursday, hitting $35.90. The company’s stock had a trading volume of 1,101 shares, compared to its average volume of 5,036. Tortoise Energy Independence Fund has a 12-month low of $27.38 and a 12-month high of $36.50. The stock has a 50 day moving average of $34.37 and a 200-day moving average of $32.22.

Tortoise Energy Independence Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 24th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 7.02%. The ex-dividend date of this dividend was Thursday, May 23rd.

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.