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Tortoise Energy Independence Fund (NDP) has 1 split in our NDP split history database. The split for NDP took place on May 01, 2020. This was a 1 for 8 reverse split, meaning for each 8 shares of NDP owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 125 share position following the split.
When a company such as Tortoise Energy Independence Fund conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the NDP split history from start to finish, an original position size of 1000 shares would have turned into 125 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Tortoise Energy Independence Fund shares, starting with a $10,000 purchase of NDP, presented on a split-history-adjusted basis factoring in the complete NDP split history.
Growth of $10,000.00
With Dividends Reinvested
|Average Annual Total Return:||-10.17%|
Growth of $10,000.00
Without Dividends Reinvested
|Average Annual Total Return:||-4.55%|
|About Tortoise Energy Independence Fund|
|ortoise Energy Independence Fund is a closed-end management investment company. The Fund's investment objective is to seek high total return with an emphasis on current distributions paid to stockholders. The Fund invests primarily in equity securities of upstream North American energy companies that engage in the exploration and production of crude oil, condensate, natural gas and natural gas liquids that have presence in North American oil and gas fields, including shale reservoirs. According to our NDP split history records, Tortoise Energy Independence Fund has had 1 split.|
|NDP Split History Table|
|05/01/2020||1 for 8|
|Financials Stock Splits|
|NDP is categorized under the Financials sector; below are some other companies in the same sector that also have a history of stock splits:|