Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Short Interest Update

Tortoise Energy Independence Fund, Inc. (NYSE:NDPGet Rating) saw a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 1,400 shares, a decline of 80.8% from the April 15th total of 7,300 shares. Based on an average daily volume of 19,300 shares, the days-to-cover ratio is presently 0.1 days.

NDP stock traded up $1.26 during midday trading on Wednesday, hitting $29.85. 1,763 shares of the company’s stock were exchanged, compared to its average volume of 17,461. Tortoise Energy Independence Fund has a 12-month low of $18.06 and a 12-month high of $32.85. The firm has a 50 day moving average price of $29.49 and a 200-day moving average price of $26.20.

A number of hedge funds have recently bought and sold shares of NDP. Morgan Stanley increased its holdings in Tortoise Energy Independence Fund by 98.5% during the 2nd quarter. Morgan Stanley now owns 45,550 shares of the company’s stock worth $922,000 after purchasing an additional 22,602 shares during the last quarter. Bank of America Corp DE increased its holdings 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 acquiring an additional 16,819 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Tortoise Energy Independence Fund in the 3rd quarter valued at approximately $210,000. Bulldog Investors LLP increased its holdings in shares of Tortoise Energy Independence Fund by 18.3% in the 3rd quarter. Bulldog Investors LLP now owns 187,889 shares of the company’s stock valued at $4,064,000 after acquiring an additional 28,998 shares during the last quarter. Finally, Rivernorth Capital Management LLC bought a new stake in shares of Tortoise Energy Independence Fund in the 3rd quarter valued at approximately $858,000.

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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