NXG Cushing Midstream Energy Fund (NYSE:SRV) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of NXG Cushing Midstream Energy Fund (NYSE:SRV) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.24 and traded as high as $45.72. NXG Cushing Midstream Energy Fund shares last traded at $45.4150, with a volume of 40,427 shares traded.

NXG Cushing Midstream Energy Fund Trading Up 2.5%

The company has a fifty day moving average price of $42.44 and a two-hundred day moving average price of $42.24.

NXG Cushing Midstream Energy Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be given a $0.45 dividend. This represents a c) annualized dividend and a yield of 11.9%. The ex-dividend date of this dividend is Friday, May 15th.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sit Investment Associates Inc. acquired a new position in shares of NXG Cushing Midstream Energy Fund in the 4th quarter valued at $12,620,000. Absolute Investment Advisers LLC acquired a new stake in shares of NXG Cushing Midstream Energy Fund during the 4th quarter valued at about $2,929,000. Kovack Advisors Inc. acquired a new stake in shares of NXG Cushing Midstream Energy Fund during the 4th quarter valued at about $2,056,000. Summit Financial LLC increased its stake in NXG Cushing Midstream Energy Fund by 17.5% in the fourth quarter. Summit Financial LLC now owns 50,867 shares of the investment management company’s stock valued at $1,986,000 after acquiring an additional 7,589 shares during the period. Finally, J.W. Cole Advisors Inc. increased its stake in NXG Cushing Midstream Energy Fund by 11.6% in the third quarter. J.W. Cole Advisors Inc. now owns 37,895 shares of the investment management company’s stock valued at $1,741,000 after acquiring an additional 3,940 shares during the period.

About NXG Cushing Midstream Energy Fund

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.