On July 14, 2023, Bulldog Investors, LLP (Trades, Portfolio) made a significant addition to its portfolio by acquiring 127,134 shares in Tortoise Energy Independence Fund, Inc. (NDP, Financial). This article provides an in-depth analysis of this transaction, the profiles of the guru and the traded company, and the potential impact on the stock market.
Details of the Transaction
The transaction took place on July 14, 2023, with Bulldog Investors, LLP (Trades, Portfolio) adding 19,044 shares of Tortoise Energy Independence Fund, Inc. to its portfolio. The shares were acquired at a price of $28.87 each, resulting in a 17.62% change in shares. This trade had a 0.18% impact on the guru's portfolio, increasing its holdings in the traded stock to 7.25% and making the traded stock account for 1.18% of the guru's portfolio.
Profile of the Guru: Bulldog Investors, LLP (Trades, Portfolio)
Bulldog Investors, LLP (Trades, Portfolio), based in Saddle Brook, New Jersey, is a renowned investment firm with a portfolio of 259 stocks, primarily in the Financial Services and Energy sectors. The firm's top holdings include Central Securities Corp (CET, Financial), General American Investors Company Inc (GAM, Financial), SRH Total Return Fund, Inc. (STEW, Financial), First Trust Dynamic Europe Equity Income Fund (FDEU, Financial), and CION Invt Corp (CION, Financial). The firm's total equity stands at $311 million. 
Overview of the Traded Stock: Tortoise Energy Independence Fund, Inc.
Tortoise Energy Independence Fund, Inc. (NDP, Financial), a non-diversified closed-end management investment company based in the USA, primarily invests in equity securities of upstream North American energy companies. The company's market cap is $52.109 million, and its current stock price is $29.715, with a PE percentage of 1.96. The GF Value of the stock could not be evaluated due to insufficient data. 
Analysis of the Traded Stock's Performance
Since the transaction, the stock has gained 2.93%, but it has lost 85.6% of its value since its IPO. The year-to-date price change ratio stands at 3.54%. The GF Score of the stock is 41/100, indicating a poor future performance potential. The stock's F Score is 8, but its Z Score and cash to debt ratio could not be evaluated due to insufficient data.
Evaluation of the Traded Stock's Future Performance Potential
The stock's balance sheet, profitability, and growth ranks are 5/10, 2/10, and 0/10 respectively. The stock's momentum rank is 8/10, indicating a strong momentum. However, the stock's GF Value rank is 0/10, suggesting that the stock is overvalued.
Examination of the Traded Stock's Industry Performance
The stock belongs to the Asset Management industry. It has an ROE of 45.49 and an ROA of 42.58. However, the stock's gross margin growth, operating margin growth, and 3-year revenue growth could not be evaluated due to insufficient data.
Assessment of the Traded Stock's Momentum
The stock's RSI 5 day, RSI 9 day, and RSI 14 day are 65.83, 62.78, and 59.99 respectively. The stock's momentum index 6 - 1 month is -6.38, and its momentum index 12 - 1 month is 6.82.
In conclusion, this transaction by Bulldog Investors, LLP (Trades, Portfolio) has increased its holdings in Tortoise Energy Independence Fund, Inc., which could potentially influence the stock's performance in the market. However, the stock's poor future performance potential and overvaluation suggest that investors should exercise caution.
