Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) Stock Price Up 2.2% Following Insider Buying Activity

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF)’s share price rose 2.2% on Monday after an insider bought additional shares in the company. The stock traded as high as $10.83 and last traded at $10.80. Approximately 32,679 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 35,787 shares. The stock had previously closed at $10.57.

Specifically, major shareholder Saba Capital Management, L.P. acquired 42,284 shares of Ecofin Sustainable and Social Impact Term Fund stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average price of $10.45 per share, with a total value of $441,867.80. Following the completion of the transaction, the insider now owns 1,479,957 shares in the company, valued at approximately $15,465,550.65. This trade represents a 2.94 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Saba Capital Management, L.P. bought 15,679 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was purchased at an average cost of $10.29 per share, for a total transaction of $161,336.91. Following the completion of the transaction, the insider now owns 1,437,673 shares in the company, valued at approximately $14,793,655.17. The trade was a 1.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Ecofin Sustainable and Social Impact Term Fund Stock Performance

The company has a fifty day moving average price of $11.61 and a 200-day moving average price of $12.20.

Ecofin Sustainable and Social Impact Term Fund Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 25th were paid a $0.09 dividend. This represents a yield of 9.21%. The ex-dividend date of this dividend was Monday, March 24th.

Institutional Trading of Ecofin Sustainable and Social Impact Term Fund

Several large investors have recently added to or reduced their stakes in TEAF. Castlekeep Investment Advisors LLC bought a new position in shares of Ecofin Sustainable and Social Impact Term Fund during the 4th quarter valued at $12,346,000. Sit Investment Associates Inc. increased its position in Ecofin Sustainable and Social Impact Term Fund by 147.0% during the fourth quarter. Sit Investment Associates Inc. now owns 333,427 shares of the company’s stock worth $4,001,000 after buying an additional 198,429 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. raised its holdings in Ecofin Sustainable and Social Impact Term Fund by 134.8% during the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 265,279 shares of the company’s stock valued at $3,183,000 after buying an additional 152,317 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Ecofin Sustainable and Social Impact Term Fund by 6.8% in the fourth quarter. Private Advisor Group LLC now owns 154,900 shares of the company’s stock worth $1,859,000 after buying an additional 9,800 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Ecofin Sustainable and Social Impact Term Fund during the 4th quarter worth about $1,085,000.

About Ecofin Sustainable and Social Impact Term Fund

Tortoise Essential Assets Income Term Fund is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in equity and fixed income markets. The fund seeks to invest in securities of companies operating in the essential asset sectors, which includes education, housing, healthcare, social and human services, power, water, energy, infrastructure, basic materials, industrial, transportation and telecommunications sectors.