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.
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 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.