NewEdge Wealth LLC Acquires New Position in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

NewEdge Wealth LLC acquired a new stake in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) in the 4th quarter, Holdings Channel reports. The fund acquired 9,697 shares of the investment management company’s stock, valued at approximately $337,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC purchased a new position in shares of Tortoise Midstream Energy Fund in the 4th quarter valued at approximately $45,000. Asset Allocation Strategies LLC purchased a new position in shares of Tortoise Midstream Energy Fund in the 3rd quarter valued at approximately $218,000. Royal Bank of Canada raised its position in shares of Tortoise Midstream Energy Fund by 62.6% in the 3rd quarter. Royal Bank of Canada now owns 68,350 shares of the investment management company’s stock valued at $2,335,000 after purchasing an additional 26,326 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Tortoise Midstream Energy Fund by 50.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 77,911 shares of the investment management company’s stock valued at $2,661,000 after purchasing an additional 26,109 shares during the last quarter. Finally, Stansberry Asset Management LLC raised its position in shares of Tortoise Midstream Energy Fund by 3.8% in the 3rd quarter. Stansberry Asset Management LLC now owns 57,611 shares of the investment management company’s stock valued at $1,968,000 after purchasing an additional 2,113 shares during the last quarter.

Tortoise Midstream Energy Fund Stock Up 1.3 %

Shares of Tortoise Midstream Energy Fund stock opened at $36.98 on Thursday. The company has a 50 day moving average price of $36.91 and a 200 day moving average price of $35.15. Tortoise Midstream Energy Fund, Inc. has a 52 week low of $31.25 and a 52 week high of $39.31.

Tortoise Midstream Energy Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Investors of record on Thursday, February 22nd were issued a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $3.08 annualized dividend and a yield of 8.33%. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is presently -10,341.47%.

Tortoise Midstream Energy Fund Profile

Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.