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In recent transactions, Saba Capital Management, L.P., a significant stakeholder, acquired a substantial amount of common stock in Tortoise Sustainable & Social Impact Term Fund (NYSE:TEAF). The purchases, dated April 10 and April 11, involved a total of 54,593 shares at prices ranging from $10.45 to $10.49 per share, amounting to approximately $570,989.
Following these transactions, Saba Capital Management’s total holdings in the fund increased to 1,492,266 shares. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, underscoring Saba’s continued investment in the fund. For more detailed dividend analysis and additional insights, subscribers can access multiple exclusive tips on InvestingPro.
In other recent news, Tortoise Sustainable and Social Impact Term Fund has announced a significant change in its accounting practices. The Fund’s Board of Directors has approved the appointment of Tait, Weller & Baker LLP as its new independent registered public accounting firm. This decision comes after the dismissal of Ernst & Young LLP, which had served as the Fund’s accountant for the fiscal year ending November 30, 2024. Notably, Ernst & Young LLP’s reports for the fiscal years ending November 30, 2024, and November 30, 2023, contained no adverse opinions or modifications. There were no disagreements or reportable events between the Fund and Ernst & Young LLP during their engagement. The transition to Tait, Weller & Baker LLP has been smooth, with no prior consultations or disagreements reported with the new firm. This development is part of the Fund’s ongoing commitment to sustainable and social impact investments. The information has been confirmed by recent filings with the Securities and Exchange Commission.
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