Amended Statement of Beneficial Ownership (sc 13d/a)
July 01 2022 - 10:25AM
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. 2)*
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)
June 29, 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
184,414
|
|
9
|
SOLE DISPOSITIVE
POWER
-0-
|
|
10
|
SHARED DISPOSITIVE
POWER
184,414
|
|
11
|
AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH PERSON
184,414
|
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|
☐
|
|
13
|
PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (11)
9.99%
|
|
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
184,414
|
|
9
|
SOLE DISPOSITIVE
POWER
-0-
|
|
10
|
SHARED DISPOSITIVE
POWER
184,414
|
|
11
|
AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH PERSON
184,414
|
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|
☐
|
|
13
|
PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (11)
9.99%
|
|
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
184,414
|
|
9
|
SOLE DISPOSITIVE
POWER
-0-
|
|
10
|
SHARED DISPOSITIVE
POWER
184,414
|
|
11
|
AGGREGATE AMOUNT
BENEFICIALLY OWNED BY EACH PERSON
184,414
|
|
12
|
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|
☐
|
|
13
|
PERCENT OF CLASS
REPRESENTED BY AMOUNT IN ROW (11)
9.99%
|
|
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. 2 amends and supplements the statement on
Schedule 13D filed with the SEC on 1/10/22, as amended by Amendment
No. 1 filed 2/14/22; with respect to the common shares of Tortoise
Energy Independence Fund, Inc. This Amendment No. 2 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 $4,395,846 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 within the past
sixty days 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: July 1, 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 during the
past sixty days. All transactions were effectuated in the
open market through a broker.
| Trade Date |
Buy/Sell |
Shares |
Price |
| 5/9/2022 |
Buy |
5,533 |
28.60 |
| 5/18/2022 |
Buy |
300 |
31.16 |
| 5/27/2022 |
Buy |
1,299 |
32.83 |
| 5/31/2022 |
Buy |
4,066 |
32.86 |
| 6/28/2022 |
Buy |
6,256 |
28.08 |
| 6/29/2022 |
Buy |
6,412 |
27.96 |
| 6/30/2022 |
Buy |
7,964 |
27.40 |
Tortoise Energy Independ... (NYSE:NDP)
Historical Stock Chart
From Jan 2023 to Feb 2023
Tortoise Energy Independ... (NYSE:NDP)
Historical Stock Chart
From Feb 2022 to Feb 2023
