Raymond James & Associates Invests $4.60 Million in Tortoise Energy Independence Fund, Inc. (NYSE:NDP)

Raymond James & Associates acquired a new position in Tortoise Energy Independence Fund, Inc. (NYSE:NDP – Get Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 157,784 shares of the company’s stock, valued at approximately $4,598,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NDP. Allspring Global Investments Holdings LLC bought a new stake in Tortoise Energy Independence Fund in the 4th quarter valued at about $603,000. Thomas J. Herzfeld Advisors Inc. boosted its stake in Tortoise Energy Independence Fund by 10.2% during the 3rd quarter. Thomas J. Herzfeld Advisors Inc. now owns 178,485 shares of the company’s stock valued at $5,053,000 after purchasing an additional 16,488 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Tortoise Energy Independence Fund during the 4th quarter valued at about $324,000. Cambridge Investment Research Advisors Inc. boosted its stake in Tortoise Energy Independence Fund by 92.6% during 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. Finally, Wolverine Asset Management LLC boosted its stake in Tortoise Energy Independence Fund by 32.4% during the 4th quarter. Wolverine Asset Management LLC now owns 36,242 shares of the company’s stock valued at $1,056,000 after purchasing an additional 8,860 shares during the last quarter.

Tortoise Energy Independence Fund Trading Up 0.6 %

NDP stock opened at $28.23 on Wednesday. Tortoise Energy Independence Fund, Inc. has a 52-week low of $24.79 and a 52-week high of $35.56. The business has a 50-day simple moving average of $28.26 and a two-hundred day simple moving average of $29.74.

Tortoise Energy Independence Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Wednesday, May 24th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $2.52 dividend on an annualized basis and a dividend yield of 8.93%.

Tortoise Energy Independence Fund Profile

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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.