Oxbow Advisors LLC lifted its position in Tortoise MLP Fund Inc (NYSE:NTG) by 55.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,022,626 shares of the investment management company’s stock after purchasing an additional 364,762 shares during the quarter. Tortoise MLP Fund comprises 2.0% of Oxbow Advisors LLC’s holdings, making the stock its 7th largest position. Oxbow Advisors LLC’s holdings in Tortoise MLP Fund were worth $16,444,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Ballentine Partners LLC purchased a new position in Tortoise MLP Fund during the third quarter valued at approximately $1,051,000. Garner Asset Management Corp raised its position in Tortoise MLP Fund by 51.1% during the second quarter. Garner Asset Management Corp now owns 154,920 shares of the investment management company’s stock valued at $1,771,000 after acquiring an additional 52,360 shares in the last quarter. Crescent Grove Advisors LLC raised its position in Tortoise MLP Fund by 4.0% during the third quarter. Crescent Grove Advisors LLC now owns 442,726 shares of the investment management company’s stock valued at $7,119,000 after acquiring an additional 16,938 shares in the last quarter. Cahill Financial Advisors Inc. raised its position in Tortoise MLP Fund by 20.9% during the second quarter. Cahill Financial Advisors Inc. now owns 72,618 shares of the investment management company’s stock valued at $1,240,000 after acquiring an additional 12,567 shares in the last quarter. Finally, Sageworth Trust Co purchased a new position in Tortoise MLP Fund during the third quarter valued at approximately $161,000.
Shares of NTG stock opened at $14.81 on Friday. Tortoise MLP Fund Inc has a twelve month low of $14.06 and a twelve month high of $21.09.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 23rd will be given a dividend of $0.423 per share. This represents a $1.69 annualized dividend and a yield of 11.42%. The ex-dividend date is Wednesday, November 21st.
In related news, major shareholder Prudential Financial Inc purchased 48,000,000 shares of Tortoise MLP Fund stock in a transaction that occurred on Tuesday, October 16th. The stock was bought at an average cost of $8,375,000.00 per share, for a total transaction of $402,000,000,000,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Tortoise MLP Fund Profile
Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.
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