Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Stake Boosted by Private Advisor Group LLC

Private Advisor Group LLC increased its stake in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) by 8.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,098 shares of the investment management company’s stock after purchasing an additional 977 shares during the period. Private Advisor Group LLC’s holdings in Tortoise Midstream Energy Fund were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in Tortoise Midstream Energy Fund in the fourth quarter worth $32,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Tortoise Midstream Energy Fund in the 2nd quarter worth about $216,000. Everett Harris & Co. CA acquired a new stake in shares of Tortoise Midstream Energy Fund in the 1st quarter worth about $203,000. Matisse Capital bought a new stake in Tortoise Midstream Energy Fund in the 1st quarter valued at about $238,000. Finally, Kercheville Advisors LLC acquired a new position in Tortoise Midstream Energy Fund during the 1st quarter valued at about $343,000.

Tortoise Midstream Energy Fund Stock Performance

Shares of NYSE:NTG opened at $47.55 on Thursday. The firm’s 50 day moving average is $44.14 and its two-hundred day moving average is $41.02. Tortoise Midstream Energy Fund, Inc. has a 52 week low of $31.54 and a 52 week high of $48.02.

Tortoise Midstream Energy Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 6.81%. This is a positive change from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, August 23rd. Tortoise Midstream Energy Fund’s dividend payout ratio is -10,475.77%.

Insider Activity at Tortoise Midstream Energy Fund

In other Tortoise Midstream Energy Fund news, major shareholder Saba Capital Management, L.P. purchased 4,725 shares of Tortoise Midstream Energy Fund stock in a transaction on Friday, August 30th. The stock was bought at an average price of $44.84 per share, for a total transaction of $211,869.00. Following the transaction, the insider now owns 515,767 shares of the company’s stock, valued at approximately $23,126,992.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

About Tortoise Midstream Energy Fund

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.