NXG Cushing Midstream Energy Fund (NYSE:SRV) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why
by Sarita Garza · The Markets DailyNXG Cushing Midstream Energy Fund (NYSE:SRV – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.22 and traded as high as $49.73. NXG Cushing Midstream Energy Fund shares last traded at $49.1620, with a volume of 60,683 shares changing hands.
NXG Cushing Midstream Energy Fund Stock Up 0.9%
The firm has a 50 day simple moving average of $48.64 and a two-hundred day simple moving average of $45.28.
NXG Cushing Midstream Energy Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 12.1%.
Institutional Trading of NXG Cushing Midstream Energy Fund
Hedge funds have recently added to or reduced their stakes in the business. Sit Investment Associates Inc. bought a new position in NXG Cushing Midstream Energy Fund during the fourth quarter worth about $12,620,000. Absolute Investment Advisers LLC raised its position in shares of NXG Cushing Midstream Energy Fund by 32.5% during the first quarter. Absolute Investment Advisers LLC now owns 99,777 shares of the investment management company’s stock worth $4,439,000 after purchasing an additional 24,497 shares during the period. Kovack Advisors Inc. acquired a new stake in shares of NXG Cushing Midstream Energy Fund during the fourth quarter worth about $2,056,000. Summit Financial LLC lifted its holdings in shares of NXG Cushing Midstream Energy Fund by 17.5% during the 4th quarter. Summit Financial LLC now owns 50,867 shares of the investment management company’s stock valued at $1,986,000 after purchasing an additional 7,589 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its holdings in shares of NXG Cushing Midstream Energy Fund by 17.5% during the 4th quarter. Osaic Holdings Inc. now owns 36,792 shares of the investment management company’s stock valued at $1,437,000 after purchasing an additional 5,481 shares in the last quarter.
NXG Cushing Midstream Energy Fund Company Profile
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) is a closed-end management investment company that primarily focuses on equity securities of midstream energy partnerships. The fund seeks to deliver long-term total return through a combination of current distributions and capital appreciation by investing in publicly traded master limited partnerships (MLPs) and affiliated entities engaged in the transportation, storage, processing and marketing of natural gas, crude oil, refined products and related commodities.
The fund’s portfolio is heavily weighted toward midstream energy infrastructure, including pipelines, terminals, storage facilities and processing plants.