Amended Statement of Beneficial Ownership (sc 13d/a)
14 Februar 2022 - 08:04PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under
the Securities Exchange Act of 1934
(Amendment No. 1)*
Tortoise Energy Independence Fund,
Inc
(Name of
Issuer)
Common Shares, $0.001 par value
(Title
of Class of Securities)
89148K200
(CUSIP
Number)
Saba Capital
Management, L.P.
405
Lexington Avenue
58th
Floor
New
York, NY 10174
Attention: Michael D'Angelo
(212)
542-4635
(Name, Address and Telephone Number
of Person
Authorized to
Receive Notices and Communications)
February 10, 2022
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is
the subject of this Schedule 13D, and is filing this schedule
because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box. [X]
(Page 1 of 7 Pages)
______________________________
* The remainder of
this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the
remainder of this cover page shall not be deemed to be "filed" for
the purpose of Section 18 of the Securities Exchange Act of 1934
("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act
(however, see the Notes).
|
1
|
NAME OF REPORTING
PERSON
Saba Capital Management, L.P.
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
(b) ☐
|
|
3
|
SEC USE ONLY
|
|
4
|
SOURCE OF FUNDS
OO (see Item 3)
|
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
|
☐
|
|
6
|
CITIZENSHIP OR
PLACE OF ORGANIZATION
Delaware
|
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
|
7
|
SOLE VOTING
POWER
-0-
|
|
8
|
SHARED VOTING
POWER
152,584
|
|
9
|
SOLE DISPOSITIVE
POWER
-0-
|
|
10
|
SHARED DISPOSITIVE
POWER
152,584
|
|
11
|
AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH PERSON
152,584
|
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
|
☐
|
|
13
|
PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (11)
8.27%
|
|
14
|
TYPE OF REPORTING
PERSON
PN; IA
|
| |
|
|
|
The percentages
used herein are calculated based upon 1,846,000 shares of common
stock outstanding as of 11/30/21, as disclosed in the company's
N-CSR filed 2/8/22.
|
1
|
NAME OF REPORTING
PERSON
Boaz R. Weinstein
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
(b) ☐
|
|
3
|
SEC USE ONLY
|
|
4
|
SOURCE OF FUNDS
OO (see Item 3)
|
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
|
☐
|
|
6
|
CITIZENSHIP OR
PLACE OF ORGANIZATION
United States
|
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
|
7
|
SOLE VOTING
POWER
-0-
|
|
8
|
SHARED VOTING
POWER
152,584
|
|
9
|
SOLE DISPOSITIVE
POWER
-0-
|
|
10
|
SHARED DISPOSITIVE
POWER
152,584
|
|
11
|
AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH PERSON
152,584
|
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
|
☐
|
|
13
|
PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (11)
8.27%
|
|
14
|
TYPE OF REPORTING
PERSON
IN
|
| |
|
|
|
The percentages
used herein are calculated based upon 1,846,000 shares of common
stock outstanding as of 11/30/21, as disclosed in the company's
N-CSR filed 2/8/22.
|
1
|
NAME OF REPORTING
PERSON
Saba Capital Management GP, LLC
|
|
2
|
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
(b) ☐
|
|
3
|
SEC USE ONLY
|
|
4
|
SOURCE OF FUNDS
OO (see Item 3)
|
|
5
|
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
|
☐
|
|
6
|
CITIZENSHIP OR
PLACE OF ORGANIZATION
Delaware
|
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH:
|
7
|
SOLE VOTING
POWER
-0-
|
|
8
|
SHARED VOTING
POWER
152,584
|
|
9
|
SOLE DISPOSITIVE
POWER
-0-
|
|
10
|
SHARED DISPOSITIVE
POWER
152,584
|
|
11
|
AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH PERSON
152,584
|
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
|
☐
|
|
13
|
PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (11)
8.27%
|
|
14
|
TYPE OF REPORTING
PERSON
OO
|
| |
|
|
|
The percentages
used herein are calculated based upon 1,846,000 shares of common
stock outstanding as of 11/30/21, as disclosed in the company's
N-CSR filed 2/8/22.
|
Item 1.
|
SECURITY AND ISSUER
|
|
|
|
|
|
This Amendment No. 1 amends and
supplements the statement on Schedule 13D filed with the SEC on
1/10/22; with respect to the common shares of Tortoise Energy
Independence Fund, Inc. This Amendment No. 1 amends Items 3
and 5, as set forth below.
|
|
Item 3.
|
SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
|
|
|
|
|
|
Funds for the purchase of the
Common Shares were derived from the subscription proceeds from
investors and the capital appreciation thereon and margin account
borrowings made in the ordinary course of business. In such
instances, the positions held in the margin accounts are pledged as
collateral security for the repayment of debit balances in the
account, which may exist from time to time. Since other
securities are held in the margin accounts, it is not possible to
determine the amounts, if any, of margin used to purchase the
Common Shares reported herein. A total of approximately $3,478,773
was paid to acquire the Common Shares reported herein.
|
|
Item 5.
|
INTEREST IN SECURITIES OF THE ISSUER
|
|
|
|
|
(a)
|
See rows (11) and (13) of the cover
pages to this Schedule 13D/A for the aggregate number of Common
Shares and percentages of the Common Shares beneficially owned by
each of the Reporting Persons. The percentages used herein
are calculated based upon 1,846,000 shares of common stock
outstanding as of 11/30/21, as disclosed in the company's N-CSR
filed 2/8/22
|
|
|
|
|
(b)
|
See rows (7) through (10) of the
cover pages to this Schedule 13D/A for the number of Common Shares
as to which each Reporting Person has the sole or shared power to
vote or direct the vote and sole or shared power to dispose or to
direct the disposition.
|
|
|
|
|
(c)
|
The transactions in the Common
Shares effected since the Schedule 13D filing on 1/10/22 by the
Reporting Persons, which were all in the open market, are set forth
in Schedule A, and are incorporated herein by reference
|
|
|
|
|
(d)
|
The funds and accounts advised by
Saba Capital have the right to receive the dividends from and
proceeds of sales from the Common Shares.
|
|
|
|
|
(e)
|
Not applicable.
|
|
|
|
SIGNATURES
After reasonable
inquiry and to the best of his or its knowledge and belief, each of
the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: February 14, 2022
|
|
SABA CAPITAL MANAGEMENT, L.P.
By: /s/ Michael D'Angelo
|
|
|
Name: Michael
D'Angelo
Title: Chief
Compliance Officer
|
|
|
|
|
|
|
|
|
SABA CAPITAL MANAGEMENT GP, LLC
By: /s/ Michael D'Angelo
Name: Michael
D'Angelo
Title: Authorized
Signatory
|
|
|
|
|
|
|
|
|
BOAZ R. WEINSTEIN
By: /s/ Michael D'Angelo
|
|
|
Name: Michael D'Angelo
|
|
|
Title: Attorney-in-fact*
|
|
* Pursuant to a power of attorney
dated as of November 16, 2015, which is incorporated herein by
reference to Exhibit 2 to the Schedule 13G filed by the Reporting
Persons on December 28, 2015, accession number:
0001062993-15-006823
|
|
Schedule A
This Schedule
sets forth information with respect to each purchase and sale of
Common Shares which were effectuated by Saba Capital since the
filing of the Schedule 13D on 1/10/22. All transactions were
effectuated in the open market through a broker
| Trade Date |
Buy/Sell |
Shares |
Price |
| 1/18/2022 |
Buy |
484 |
25.57 |
| 2/1/2022 |
Sell |
-200 |
27.80 |
| 2/7/2022 |
Sell |
-1,219 |
27.51 |
| 2/8/2022 |
Sell |
-3,660 |
26.77 |
| 2/9/2022 |
Sell |
-1,699 |
27.14 |
| 2/10/2022 |
Sell |
-11,639 |
26.83 |
| 2/11/2022 |
Sell |
-4,092 |
27.05 |
Tortoise Energy Independ... (NYSE:NDP)
Historical Stock Chart
Von Jan 2023 bis Feb 2023
Tortoise Energy Independ... (NYSE:NDP)
Historical Stock Chart
Von Feb 2022 bis Feb 2023
