NINE MASTS CAPITAL Ltd bought a new stake in Tortoise MLP Fund, Inc. (NYSE:NTG) in the fourth quarter, HoldingsChannel.com reports. The fund bought 56,400 shares of the investment management company’s stock, valued at approximately $990,000.
Other institutional investors have also added to or reduced their stakes in the company. Stifel Financial Corp grew its position in shares of Tortoise MLP Fund by 7.0% in the 2nd quarter. Stifel Financial Corp now owns 20,582 shares of the investment management company’s stock valued at $392,000 after acquiring an additional 1,345 shares during the period. Ameriprise Financial Inc. grew its position in shares of Tortoise MLP Fund by 3.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 42,077 shares of the investment management company’s stock valued at $812,000 after acquiring an additional 1,377 shares during the period. Pegasus Partners Ltd. bought a new position in shares of Tortoise MLP Fund in the 4th quarter valued at about $888,000. Sterling Capital Management LLC grew its position in shares of Tortoise MLP Fund by 12.9% in the 3rd quarter. Sterling Capital Management LLC now owns 66,575 shares of the investment management company’s stock valued at $1,206,000 after acquiring an additional 7,600 shares during the period. Finally, American Financial Group Inc. bought a new position in shares of Tortoise MLP Fund in the 4th quarter valued at about $2,404,000.
In other news, major shareholder Prudential Financial Inc acquired 32,000,000 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was bought at an average price of $26,562,500.00 per share, with a total value of $850,000,000,000,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders bought 32,002,250 shares of company stock valued at $850,000,000,036,180.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st will be given a $0.4225 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 9.27%. The ex-dividend date of this dividend is Tuesday, February 20th.
Tortoise MLP Fund Profile
Tortoise MLP Fund, Inc is a non-diversified, closed-end management investment company. The Fund’s primary investment objective is to seek a high level of total return with an emphasis on current distributions. It invests primarily in master limited partnerships (MLPs) and their affiliates that own and operate a network of pipeline and energy-related logistical infrastructure assets.
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