Welcome to our dedicated page for Tortoise Sustainable and Social Impact Term Fund news (Ticker: TEAF), a resource for investors and traders seeking the latest updates and insights on Tortoise Sustainable and Social Impact Term Fund stock.
Tortoise Sustainable and Social Impact Term Fund was a NYSE-listed closed-end fund advised by Tortoise Capital Advisors, L.L.C. News for TEAF centers on its completed merger into Tortoise Energy Infrastructure Corp. (TYG), with TYG as the continuing fund and TEAF shares converted into newly issued TYG shares.
Earlier TEAF updates covered monthly closed-end fund distributions, distribution source estimates, unaudited balance sheet and net asset value information, 1940 Act asset coverage ratios for leverage, top holdings references, and updates on the fund's direct investments.
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Ecofin Sustainable and Social Impact Term Fund (TEAF) released its unaudited balance sheet for March 31, 2023, indicating total assets of approximately $249.5 million and a net asset value of $215.1 million, equating to $15.94 per share. The fund's asset coverage ratio is reported at 750% concerning senior securities representing indebtedness. Key financial figures include $246.8 million in investments and $33.1 million in credit facility borrowings. The fund has approximately 13.49 million common shares outstanding, with ongoing updates on direct investments available on its website.
Tortoise Power and Energy Infrastructure Fund (NYSE: TPZ) announced a distribution of $0.1050 per common share on March 31, 2023, comprised of various income sources. The breakdown indicates that 21% originates from net investment income and 26% from net realized long-term capital gains. Notably, 53% is classified as a return of capital, which may impact investors' perceptions of yield and income. For the fiscal year-to-date, cumulative distributions amount to $0.4200, with a total return relative to NAV of -0.63%. The advisory firm emphasizes that return of capital distributions do not necessarily reflect TPZ's performance.