Raymond James & Associates Sells 95,212 Shares of Tortoise Energy Independence Fund, Inc. (NYSE:NDP)

Raymond James & Associates lowered its holdings in shares of Tortoise Energy Independence Fund, Inc. (NYSE:NDP) by 67.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 46,834 shares of the company’s stock after selling 95,212 shares during the period. Raymond James & Associates’ holdings in Tortoise Energy Independence Fund were worth $1,346,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of NDP. Cambridge Investment Research Advisors Inc. raised its stake in shares of Tortoise Energy Independence Fund by 92.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,961 shares of the company’s stock valued at $563,000 after acquiring an additional 9,118 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Tortoise Energy Independence Fund by 5.2% during the first quarter. Bank of America Corp DE now owns 35,243 shares of the company’s stock valued at $1,046,000 after acquiring an additional 1,732 shares during the last quarter. UBS Group AG raised its stake in shares of Tortoise Energy Independence Fund by 30.9% during the third quarter. UBS Group AG now owns 6,230 shares of the company’s stock valued at $176,000 after acquiring an additional 1,471 shares during the last quarter. Morgan Stanley raised its stake in shares of Tortoise Energy Independence Fund by 17.6% during the fourth quarter. Morgan Stanley now owns 18,805 shares of the company’s stock valued at $548,000 after acquiring an additional 2,821 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its stake in shares of Tortoise Energy Independence Fund by 9.0% during the first quarter. Wolverine Asset Management LLC now owns 39,506 shares of the company’s stock valued at $1,112,000 after acquiring an additional 3,264 shares during the last quarter.

Tortoise Energy Independence Fund Trading Up 4.1 %

NDP opened at $32.46 on Friday. Tortoise Energy Independence Fund, Inc. has a twelve month low of $25.81 and a twelve month high of $35.46. The company has a fifty day moving average of $31.56 and a 200-day moving average of $30.00.

Tortoise Energy Independence Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Thursday, August 24th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 7.76%. The ex-dividend date of this dividend was Wednesday, August 23rd.

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.