Tortoise Energy Independence Fund Inc (NDP)
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Tortoise Capital Lists New Active Energy ETF
On Monday, Tortoise Capital expanded its fund library with the launch of the Tortoise Energy Fund (TNGY). Formerly a mutual fund, the Tortoise Energy Fund is now an ETF available on the New York Stock Exchange.
Tortoise Capital Advisors Plans Merger of Three Closed-End Funds into Active ETF
Actively Managed ETF Aims to Offer Investors Greater Liquidity at Net Asset Value OVERLAND PARK, KS / ACCESSWIRE / August 6, 2024 / Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on traditional energy and power infrastructure investing, today announced its plans to merge three of its closed-end funds into a newly formed actively managed exchange-traded fund (ETF), Tortoise Power and Energy Infrastructure ETF.
NDP: Potential Shake-Up On The Horizon
NDP has delivered attractive total return results since our prior update, driven by the energy sector's performance and a narrowing discount. The fund's leverage, high expense ratio, and small AUM pose risks that investors need to consider - but potential activist pressure could lead to changes coming soon. NDP's distribution is trading below the NAV target payout range of 7-10%, and that could indicate that it is due for an increase in its quarterly payout.
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Tortoise Energy Independence Fund Inc Profile
| NYSE Exchange | US Country |
Overview
Tortoise Energy Independence Fund, Inc. is a distinguished close ended equity mutual fund, initiated and managed by Tortoise Capital Advisors L.L.C., a firm with a notable track record in the investment management industry. Launched on July 26, 2005, and domiciled in the United States, this fund has been specifically designed to cater to investors interested in tapping into the potentials of the energy sector across North America. By employing a meticulous investment process that combines quantitative, qualitative, and relative value analysis, the fund seeks to deliver on its promise of investment excellence through a carefully selected portfolio of energy sector assets.
Products and Services
The Tortoise Energy Independence Fund, Inc. offers a unique investment opportunity within the energy sector, particularly focusing on the North American market. Through its specialized services and products, the fund is positioned to cater to the diverse needs of its investors:
- Close Ended Equity Mutual Fund: As a closed-ended fund, it provides a fixed number of shares, which are traded on the stock exchange. This structure allows for potentially more stable investment opportunities within the volatile energy market.
- Specialization in the Energy Sector: Specifically targeting the energy sector, the fund focuses on investments that show promise for growth and stability within the North American energy markets. It is an attractive option for investors looking to diversify their portfolios with energy sector assets.
- Comprehensive Investment Strategy: The fund employs a rigorous investment strategy, leveraging fundamental analysis with a bottom-up stock picking approach. This process stresses the importance of various quantitative, qualitative, and relative value factors in the selection of its portfolio components, aiming for well-informed and strategic investment decisions.
Contact Information
