Tortoise Investment Management LLC Boosts Position in PowerShares Build America Bond Portfolio (NYSEARCA:BAB)

Tortoise Investment Management LLC increased its stake in shares of PowerShares Build America Bond Portfolio (NYSEARCA:BAB) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,893 shares of the company’s stock after buying an additional 17,560 shares during the quarter. PowerShares Build America Bond Portfolio comprises approximately 2.0% of Tortoise Investment Management LLC’s investment portfolio, making the stock its 12th biggest position. Tortoise Investment Management LLC owned about 0.69% of PowerShares Build America Bond Portfolio worth $6,841,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new position in PowerShares Build America Bond Portfolio during the 4th quarter worth $335,000. Partnervest Advisory Services LLC raised its position in PowerShares Build America Bond Portfolio by 64.1% during the 4th quarter. Partnervest Advisory Services LLC now owns 15,656 shares of the company’s stock worth $480,000 after purchasing an additional 6,113 shares during the last quarter. BerganKDV Wealth Management LLC raised its position in PowerShares Build America Bond Portfolio by 5.2% during the 4th quarter. BerganKDV Wealth Management LLC now owns 39,591 shares of the company’s stock worth $1,215,000 after purchasing an additional 1,945 shares during the last quarter. Finally, Capital Investment Advisory Services LLC raised its position in PowerShares Build America Bond Portfolio by 8.9% during the 4th quarter. Capital Investment Advisory Services LLC now owns 103,505 shares of the company’s stock worth $3,177,000 after purchasing an additional 8,490 shares during the last quarter.

PowerShares Build America Bond Portfolio (NYSEARCA:BAB) traded up $0.10 during mid-day trading on Thursday, hitting $29.60. The stock had a trading volume of 135,130 shares, compared to its average volume of 176,389. PowerShares Build America Bond Portfolio has a 1 year low of $28.92 and a 1 year high of $30.98.

The business also recently declared a monthly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 23rd were paid a dividend of $0.1008 per share. The ex-dividend date was Monday, January 22nd. This represents a $1.21 dividend on an annualized basis and a yield of 4.09%. This is an increase from PowerShares Build America Bond Portfolio’s previous monthly dividend of $0.09.

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PowerShares Build America Bond Portfolio Profile

PowerShares Build America Bond Portfolio (the Fund) seeks investment results that correspond generally to the price and yield performance of an index called The BofA Merrill Lynch Build America Bond Index (the Index). The Fund will normally invests at least 80% of its total assets in the securities that comprise the Index.

Institutional Ownership by Quarter for PowerShares Build America Bond Portfolio (NYSEARCA:BAB)

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