Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) Trading Down 1.1% – Here’s Why

Shares of Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) were down 1.1% during mid-day trading on Monday . The stock traded as low as $12.17 and last traded at $12.20. Approximately 88,896 shares changed hands during mid-day trading, an increase of 109% from the average daily volume of 42,605 shares. The stock had previously closed at $12.34.

Ecofin Sustainable and Social Impact Term Fund Price Performance

The firm’s 50 day moving average price is $12.03 and its 200-day moving average price is $11.99.

Ecofin Sustainable and Social Impact Term Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 24th were paid a dividend of $0.09 per share. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date was Friday, October 24th.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. sold 219,151 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $12.43, for a total value of $2,724,046.93. Following the completion of the transaction, the insider owned 1,189,792 shares in the company, valued at approximately $14,789,114.56. This represents a 15.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 359,434 shares of company stock valued at $4,468,206.

Hedge Funds Weigh In On Ecofin Sustainable and Social Impact Term Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathstone Holdings LLC increased its stake in shares of Ecofin Sustainable and Social Impact Term Fund by 188.3% in the third quarter. Pathstone Holdings LLC now owns 449,716 shares of the company’s stock valued at $5,289,000 after buying an additional 293,727 shares in the last quarter. Consolidated Portfolio Review Corp raised its position in Ecofin Sustainable and Social Impact Term Fund by 228.7% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 137,548 shares of the company’s stock worth $1,618,000 after purchasing an additional 95,701 shares during the last quarter. Sit Investment Associates Inc. lifted its holdings in Ecofin Sustainable and Social Impact Term Fund by 23.0% during the 1st quarter. Sit Investment Associates Inc. now owns 410,092 shares of the company’s stock worth $4,659,000 after buying an additional 76,665 shares in the last quarter. Yakira Capital Management Inc. bought a new stake in shares of Ecofin Sustainable and Social Impact Term Fund during the third quarter worth $785,000. Finally, Wolverine Asset Management LLC boosted its holdings in Ecofin Sustainable and Social Impact Term Fund by 75.6% in the first quarter. Wolverine Asset Management LLC now owns 129,597 shares of the company’s stock valued at $1,472,000 after acquiring an additional 55,778 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.