Tortoise Global Water ESG Fund (NYSE:TBLU) Sees Large Drop in Short Interest

Key Points

• Short interest fell 47% to 1,097 shares as of August 31, representing just 0.1% of TBLU’s outstanding stock and 0.7 days of average trading volume.
• Institutional investors generally increased their exposure, led by WCG Wealth Advisors, which raised its holdings by 422.3%; Harel Insurance and Cetera Investment Advisers also added shares, while Thrivent Financial and Beckerman Institutional initiated positions.
• TBLU shares declined 0.4% to $49.30, near the fund’s one-year low, while the fund recently paid a semiannual dividend of $0.5046 per share, implying a reported 196.0% yield.

Tortoise Global Water ESG Fund (NYSE:TBLU - ) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 1,097 shares, a drop of 47.0% from the August 15th total of 2,068 shares. Currently, 0.1% of the company's stock are sold short. Based on an average daily trading volume, of 1,620 shares, the short-interest ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. WCG Wealth Advisors LLC raised its holdings in shares of Tortoise Global Water ESG Fund by 422.3% in the 4th quarter. WCG Wealth Advisors LLC now owns 67,523 shares of the company's stock valued at $3,431,000 after purchasing an additional 54,594 shares during the period. Harel Insurance Investments & Financial Services Ltd. increased its position in Tortoise Global Water ESG Fund by 28.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 52,550 shares of the company's stock worth $2,650,000 after buying an additional 11,574 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in Tortoise Global Water ESG Fund during the fourth quarter worth approximately $1,874,000. Cetera Investment Advisers raised its stake in Tortoise Global Water ESG Fund by 5.7% in the first quarter. Cetera Investment Advisers now owns 5,147 shares of the company's stock valued at $260,000 after buying an additional 276 shares during the period. Finally, Beckerman Institutional LLC acquired a new stake in shares of Tortoise Global Water ESG Fund in the second quarter valued at approximately $108,000.

Tortoise Global Water ESG Fund Stock Down 0.4%

TBLU traded down $0.20 during trading on Tuesday, hitting $49.30. The company had a trading volume of 5,663 shares, compared to its average volume of 2,686. The company has a market capitalization of $50.28 million, a PE ratio of -3,819.25 and a beta of 0.92. Tortoise Global Water ESG Fund has a one year low of $48.94 and a one year high of $56.90. The firm's 50-day moving average price is $51.60 and its 200 day moving average price is $51.19.

Tortoise Global Water ESG Fund Announces Dividend

The company also recently disclosed a semiannual dividend, which was paid on Friday, June 26th. Investors of record on Thursday, June 25th were issued a dividend of $0.5046 per share. The ex-dividend date was Thursday, June 25th. This represents a dividend yield of 196.0%. Tortoise Global Water ESG Fund's dividend payout ratio (DPR) is presently -13,713.49%.

Tortoise Global Water ESG Fund Company Profile

The Tortoise Global Water ESG Fund (TBLU) is an exchange-traded fund that is based on the Ecofin Global Water ESG index. EBLU tracks an index of water infrastructure and management companies listed in developed countries. TBLU was launched on Feb 14, 2017 and is issued by Tortoise.

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