Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) Trading 0.6% Higher – Time to Buy?

Ecofin Sustainable and Social Impact Term Fund (NYSE:TEAF) shares rose 0.6% on Tuesday . The stock traded as high as $11.82 and last traded at $11.69. Approximately 16,062 shares traded hands during trading, a decline of 57% from the average daily volume of 37,345 shares. The stock had previously closed at $11.62.

Ecofin Sustainable and Social Impact Term Fund Stock Performance

The company’s 50-day moving average is $11.29 and its two-hundred day moving average is $11.80.

Ecofin Sustainable and Social Impact Term Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 22nd will be given a dividend of $0.09 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.08 annualized dividend and a yield of 9.24%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 42,284 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was purchased at an average price of $10.45 per share, with a total value of $441,867.80. Following the completion of the acquisition, the insider now owns 1,479,957 shares of the company’s stock, valued at $15,465,550.65. The trade was a 2.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought 139,210 shares of company stock valued at $1,506,031 over the last quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TEAF. D.A. Davidson & CO. lifted its holdings in shares of Ecofin Sustainable and Social Impact Term Fund by 11.3% in the fourth quarter. D.A. Davidson & CO. now owns 53,096 shares of the company’s stock worth $637,000 after acquiring an additional 5,401 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Ecofin Sustainable and Social Impact Term Fund by 6.8% in the fourth quarter. Private Advisor Group LLC now owns 154,900 shares of the company’s stock worth $1,859,000 after acquiring an additional 9,800 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Ecofin Sustainable and Social Impact Term Fund in the fourth quarter worth about $886,000. Kovack Advisors Inc. lifted its holdings in shares of Ecofin Sustainable and Social Impact Term Fund by 10.7% in the fourth quarter. Kovack Advisors Inc. now owns 16,248 shares of the company’s stock worth $195,000 after acquiring an additional 1,575 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Ecofin Sustainable and Social Impact Term Fund by 4.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 64,200 shares of the company’s stock worth $770,000 after acquiring an additional 2,991 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.