Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) Sees Significant Drop in Short Interest

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 9,100 shares, a drop of 27.8% from the March 15th total of 12,600 shares. Based on an average daily trading volume, of 37,600 shares, the days-to-cover ratio is presently 0.2 days.

Ecofin Sustainable and Social Impact Term Fund Stock Up 0.8 %

NYSE:TEAF opened at $11.11 on Friday. The stock’s fifty day moving average price is $11.54 and its two-hundred day moving average price is $12.17. Ecofin Sustainable and Social Impact Term Fund has a 52-week low of $10.09 and a 52-week high of $13.34.

Ecofin Sustainable and Social Impact Term Fund Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.09 per share. This represents a dividend yield of 9.21%. The ex-dividend date of this dividend was Monday, March 24th.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. bought 33,116 shares of Ecofin Sustainable and Social Impact Term Fund stock in a transaction dated Friday, March 28th. The shares were bought at an average cost of $11.31 per share, for a total transaction of $374,541.96. Following the completion of the transaction, the insider now owns 1,383,564 shares of the company’s stock, valued at approximately $15,648,108.84. This trade represents a 2.45 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders acquired 134,310 shares of company stock worth $1,452,563.

Institutional Trading of Ecofin Sustainable and Social Impact Term Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new position in shares of Ecofin Sustainable and Social Impact Term Fund in the 3rd quarter valued at about $137,000. Sanctuary Advisors LLC boosted its stake in Ecofin Sustainable and Social Impact Term Fund by 12.1% in the third quarter. Sanctuary Advisors LLC now owns 87,546 shares of the company’s stock valued at $1,092,000 after acquiring an additional 9,421 shares during the last quarter. Absolute Investment Advisers LLC bought a new stake in shares of Ecofin Sustainable and Social Impact Term Fund during the 4th quarter valued at $162,000. D.A. Davidson & CO. lifted its stake in shares of Ecofin Sustainable and Social Impact Term Fund by 11.3% in the 4th quarter. D.A. Davidson & CO. now owns 53,096 shares of the company’s stock valued at $637,000 after purchasing an additional 5,401 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Ecofin Sustainable and Social Impact Term Fund by 6.8% in the 4th quarter. Private Advisor Group LLC now owns 154,900 shares of the company’s stock worth $1,859,000 after purchasing an additional 9,800 shares during the last quarter.

About Ecofin Sustainable and Social Impact Term Fund

Tortoise Essential Assets Income Term Fund is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in equity and fixed income markets. The fund seeks to invest in securities of companies operating in the essential asset sectors, which includes education, housing, healthcare, social and human services, power, water, energy, infrastructure, basic materials, industrial, transportation and telecommunications sectors.