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In a recent transaction, Saba Capital Management, L.P., a prominent investment firm, acquired 14,412 shares of Tortoise Sustainable & Social Impact Term Fund (NYSE:TEAF) on April 14. The purchase was made at a price of $10.78 per share, totaling $155,361. Following this acquisition, Saba Capital’s total ownership in the fund has increased to 1,506,678 shares. The transaction highlights Saba Capital’s continued interest in the fund, which focuses on sustainable and socially impactful investments. While the fund has seen a -7.96% YTD return, it maintains a positive 4.02% return over the past year. Discover more insights about TEAF’s valuation and growth potential with InvestingPro, which offers additional exclusive tips and detailed financial analysis.
In other recent news, Tortoise Sustainable and Social Impact Term Fund has announced a change in its independent registered public accounting firm. The Fund’s Board of Directors approved Tait, Weller & Baker LLP to replace Ernst & Young LLP, which had served as the Fund’s accountant for the fiscal year ending November 30, 2024. The reports from Ernst & Young LLP for the fiscal years ending November 30, 2024, and November 30, 2023, contained no adverse opinions or disclaimers and were not qualified or modified. There were no disagreements or "reportable events" between the Fund and Ernst & Young LLP during these fiscal years or up to April 3, 2025. Following the Board’s decision, the Fund formally notified Ernst & Young LLP of its dismissal on April 8, 2025. Ernst & Young LLP confirmed their agreement with the Fund’s statements in a letter to the SEC dated April 9, 2025. Prior to engaging Tait, Weller & Baker LLP, the Fund had not consulted them on any accounting principles or transactions. This transition is part of the Fund’s ongoing focus on sustainable and social impact investments.
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