NXG NextGen Infrastructure Income Fund (NYSE:NXG) Trading Up 1.3% Following Dividend Announcement

NXG NextGen Infrastructure Income Fund (NYSE:NXG)’s stock price was up 1.3% during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $48.95 and last traded at $48.52. Approximately 39,854 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 38,738 shares. The stock had previously closed at $47.89.

The newly announced dividend which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.54 dividend. The ex-dividend date is Friday, August 15th. This represents a $6.48 annualized dividend and a yield of 13.35%. NXG NextGen Infrastructure Income Fund’s dividend payout ratio (DPR) is -2,700.00%.

NXG NextGen Infrastructure Income Fund Price Performance

The firm’s 50-day simple moving average is $44.63 and its 200-day simple moving average is $46.66.

Institutional Investors Weigh In On NXG NextGen Infrastructure Income Fund

Large investors have recently added to or reduced their stakes in the stock. Elequin Capital LP purchased a new stake in shares of NXG NextGen Infrastructure Income Fund in the 1st quarter worth approximately $51,000. US Bancorp DE purchased a new stake in shares of NXG NextGen Infrastructure Income Fund in the 1st quarter worth approximately $66,000. Oppenheimer & Co. Inc. lifted its position in shares of NXG NextGen Infrastructure Income Fund by 5.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 4,750 shares of the company’s stock worth $223,000 after purchasing an additional 250 shares during the period. Invesco Ltd. purchased a new stake in shares of NXG NextGen Infrastructure Income Fund in the 1st quarter worth approximately $225,000. Finally, Stratos Wealth Advisors LLC purchased a new stake in shares of NXG NextGen Infrastructure Income Fund in the 1st quarter worth approximately $268,000.

About NXG NextGen Infrastructure Income Fund

NXG NextGen Infrastructure Income Fund is a closed ended equity mutual fund launched and managed by Cushing MLP Asset Management, LP. The fund invests in stocks of companies across the energy supply chain spectrum, including upstream, midstream and downstream energy companies, as well as oil and gas services and logistics companies, energy-intensive chemical, metal and industrial and manufacturing companies and engineering and construction companies.