Insider Buying: Tortoise MLP Fund Inc (NTG) CEO Purchases 1,050 Shares of Stock

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Tortoise MLP Fund Inc (NYSE:NTG) CEO P. Bradley Adams acquired 1,050 shares of Tortoise MLP Fund stock in a transaction that occurred on Tuesday, June 12th. The shares were purchased at an average cost of $18.77 per share, with a total value of $19,708.50. The purchase was disclosed in a filing with the SEC, which is available at this link.

Tortoise MLP Fund opened at $17.07 on Friday, Marketbeat.com reports. Tortoise MLP Fund Inc has a one year low of $14.91 and a one year high of $21.09.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Tuesday, July 3rd will be paid a $0.423 dividend. The ex-dividend date is Monday, July 2nd. This represents a $1.69 dividend on an annualized basis and a yield of 9.91%.

A number of hedge funds have recently added to or reduced their stakes in the business. Diversified Trust Co grew its stake in Tortoise MLP Fund by 2.0% in the 1st quarter. Diversified Trust Co now owns 150,402 shares of the investment management company’s stock worth $2,402,000 after buying an additional 3,002 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Tortoise MLP Fund in the 1st quarter worth approximately $378,000. Guggenheim Capital LLC grew its stake in Tortoise MLP Fund by 13.4% in the 1st quarter. Guggenheim Capital LLC now owns 338,596 shares of the investment management company’s stock worth $5,407,000 after buying an additional 40,089 shares in the last quarter. Cahill Financial Advisors Inc. purchased a new position in Tortoise MLP Fund in the 1st quarter worth approximately $960,000. Finally, Arete Wealth Advisors LLC grew its stake in Tortoise MLP Fund by 9.6% in the 1st quarter. Arete Wealth Advisors LLC now owns 185,466 shares of the investment management company’s stock worth $2,962,000 after buying an additional 16,190 shares in the last quarter.

About Tortoise MLP Fund

Tortoise MLP Fund, Inc is a closed-end investment fund, which focuses on natural gas infrastructure master limited partnerships. It also owns and operates a network of pipeline and energy-related logistical infrastructure assets with an emphasis on those that transport, gather, process and store natural gas and natural gas liquids.

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