Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Declares $0.48 Quarterly Dividend

Tortoise Energy Independence Fund, Inc. (NYSE:NDPGet Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Shareholders of record on Tuesday, May 24th will be given a dividend of 0.48 per share on Tuesday, May 31st. This represents a $1.92 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date of this dividend is Monday, May 23rd.

Tortoise Energy Independence Fund has decreased its dividend payment by an average of 64.6% annually over the last three years and has increased its dividend every year for the last 1 years.

NDP traded down $0.39 during trading on Thursday, reaching $28.51. 4,403 shares of the company’s stock were exchanged, compared to its average volume of 17,400. Tortoise Energy Independence Fund has a one year low of $18.06 and a one year high of $32.85. The firm has a fifty day moving average price of $29.51 and a two-hundred day moving average price of $26.22.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted its stake in shares of Tortoise Energy Independence Fund by 98.5% in the 2nd quarter. Morgan Stanley now owns 45,550 shares of the company’s stock valued at $922,000 after purchasing an additional 22,602 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Tortoise Energy Independence Fund by 111.1% in the 2nd quarter. Bank of America Corp DE now owns 31,964 shares of the company’s stock valued at $647,000 after purchasing an additional 16,819 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Tortoise Energy Independence Fund by 92.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,961 shares of the company’s stock valued at $563,000 after purchasing an additional 9,118 shares during the last quarter.

Tortoise Energy Independence Fund Company Profile (Get Rating)

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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Dividend History for Tortoise Energy Independence Fund (NYSE:NDP)

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