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

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

Tortoise Energy Independence Fund Stock Up 0.6 %

NDP traded up $0.22 on Thursday, reaching $35.90. The company had a trading volume of 1,101 shares, compared to its average volume of 5,036. Tortoise Energy Independence Fund has a fifty-two week low of $27.38 and a fifty-two week high of $36.50. The company’s fifty day moving average is $34.37 and its 200 day moving average is $32.22.

Tortoise Energy Independence Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date was Thursday, May 23rd.

Institutional Trading of Tortoise Energy Independence Fund

A number of institutional investors have recently bought and sold shares of NDP. City of London Investment Management Co. Ltd. boosted its holdings 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 purchasing an additional 3,926 shares during the period. Blue Bell Private Wealth Management LLC boosted its holdings in Tortoise Energy Independence Fund by 15.5% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 10,806 shares of the company’s stock valued at $364,000 after purchasing an additional 1,451 shares during the period. Matisse Capital bought a new stake in Tortoise Energy Independence Fund in the 4th quarter valued at about $759,000. Wolverine Asset Management LLC boosted 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 valued at $850,000 after purchasing an additional 10,025 shares during the period. Finally, 1607 Capital Partners LLC boosted its holdings 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 purchasing an additional 9,277 shares during the period.

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.