CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Tortoise Energy Independence Fund (NDP)

Specialty Equity Funds - MLP Funds

Data as of May 24, 2019
Current
Market Price $8.05 (- $0.27)
NAV (May 24, 2019) $6.39 (- $0.01)
Premium / Discount 25.98% (-4.02%)
Fund Info
Inception July 27, 2012
Sponsor Tortoise Capital Advisors
Website https://cef.tortoisead...
Phone (913) 981 1020
NAV Symbol XNDPX
Objective: High total return; North American energy companies
Related Indexes
High Income Index
Master Limited Partnership (MLP) Fund Index
Capital & Leverage
Outstanding Shares 14,696,260
Total Assets (Reported: Feb. 28, 2019) $156M
Estimated Total Assets $125M
Net Assets $94M
Market Cap $118M
Purchases Turnover 64.88%
Sales Turnover 68.72%
Total Leverage 25.10%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 3.24%
Non Lev Exp Ratio 1.96%
Rel Lev Cost 3.63%
Discount Data
Average Discount (3 Yr) 1.61%
Discount Low(3 Yr) -12.71%
Discount High(3 Yr) 30.00%
Discount Rel Range 90.58%
Comp Discount 33.57
Discount St Dev (1Yr) 6.32
Z-Stat
Z-Stat (6mo) 2.25
Z-Stat (1Yr) 3.15
Z-Stat (3Yr) 3.95
Comp Z-Stat (6mo) 2.31
Comp Z-Stat (3Yr) 4.88
Distribution Data
Market Yield 21.74%
Income Yield 17.39%
Lev Adj NAV Yield 21.89%
Distribution Frequency Q
Current Distribution $0.438
Current Income $0.350
Ex-Date 5/23/19
Payable Date 5/31/19
Div Growth (3yr) 0.00%
Dividend Change % on
Expected Div 8/5/19
RoC (1yr) 62.50%
RoC (3yr) 87.50%
Tax Dividend Data 2018 2016 - 2018
Income 0% 0%
ST Gains 0% 0%
QDI 0% 0%
LT Gains 0% 0%
RoC 100% 100%
Volume & Liquidity
Average Daily $ (M) $744
Avg Volume 30 day 101,967
Avg Volume 90 day 92,400
Volume Trend 10.35%
Comp Volume Trend 18.63%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
61.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
74.0%
Price Correlation (1yr)
vs. CEFA's Master Limited Partnership (MLP) Fund Index
86.0%
Most Correlated Peer (Mk Pr): SRF 87.0%
NAV - Price Correlation (30 d) 64.7%
NAV - Price Correlation (90 d) 49.9%
NAV - Price Correlation (1 Yr) 97.0%
Price St Dev (1Yr) 35.4%
NAV St Dev (1Yr) 36.8%
Earnings
Earnings / Share (2/28/19) $-0.040
Earn Coverage 0.00%
Earnings Trend Up
UNII / Share (2/28/19) $-0.525
Rel UNII -37.52
UNII Trend Down
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
1.52
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
3.18
NAV Beta (2yr)
vs. CEFA's Master Limited Partnership (MLP) Fund Index
1.09

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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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