Bank of America Corp DE Grows Holdings in Tortoise Energy Independence Fund Inc (NDP)

Bank of America Corp DE raised its position in Tortoise Energy Independence Fund Inc (NYSE:NDP) by 35.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 170,445 shares of the company’s stock after acquiring an additional 44,245 shares during the period. Bank of America Corp DE owned about 1.17% of Tortoise Energy Independence Fund worth $2,151,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in shares of Tortoise Energy Independence Fund by 218.6% during the 2nd quarter. Raymond James & Associates now owns 89,402 shares of the company’s stock worth $1,128,000 after purchasing an additional 61,343 shares in the last quarter. Guggenheim Capital LLC raised its stake in shares of Tortoise Energy Independence Fund by 8.2% during the 1st quarter. Guggenheim Capital LLC now owns 66,152 shares of the company’s stock worth $744,000 after purchasing an additional 5,031 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Tortoise Energy Independence Fund by 20.6% during the 1st quarter. Royal Bank of Canada now owns 45,048 shares of the company’s stock worth $507,000 after purchasing an additional 7,700 shares in the last quarter. Private Advisor Group LLC bought a new stake in shares of Tortoise Energy Independence Fund during the 2nd quarter worth approximately $471,000. Finally, LPL Financial LLC raised its stake in shares of Tortoise Energy Independence Fund by 137.7% during the 1st quarter. LPL Financial LLC now owns 24,253 shares of the company’s stock worth $273,000 after purchasing an additional 14,048 shares in the last quarter.

Shares of Tortoise Energy Independence Fund stock opened at $10.68 on Friday. Tortoise Energy Independence Fund Inc has a 12-month low of $9.68 and a 12-month high of $14.48.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 23rd will be paid a dividend of $0.438 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 16.40%. The ex-dividend date is Wednesday, November 21st.

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Tortoise Energy Independence Fund Profile

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.

Further Reading: How is Preferred Stock Different from Common Stock?

Institutional Ownership by Quarter for Tortoise Energy Independence Fund (NYSE:NDP)

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