NXG Cushing Midstream Energy Fund (NYSE:SRV) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of NXG Cushing Midstream Energy Fund (NYSE:SRV) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

NXG Cushing Midstream Energy Fund Stock Performance

The stock’s 50-day moving average price is $48.67 and its two-hundred day moving average price is $45.22.

NXG Cushing Midstream Energy Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.50 dividend. This represents a c) dividend on an annualized basis and a yield of 12.2%. The ex-dividend date of this dividend is Monday, August 17th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp purchased a new stake in NXG Cushing Midstream Energy Fund in the 1st quarter worth about $25,000. Raymond James Financial Inc. bought a new position in NXG Cushing Midstream Energy Fund during the second quarter worth about $42,000. Symphony Financial Services Inc. purchased a new position in shares of NXG Cushing Midstream Energy Fund in the fourth quarter worth about $207,000. Janney Montgomery Scott LLC lifted its stake in shares of NXG Cushing Midstream Energy Fund by 20.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,280 shares of the investment management company’s stock valued at $245,000 after buying an additional 1,076 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in NXG Cushing Midstream Energy Fund by 21.6% in the 4th quarter. Jane Street Group LLC now owns 6,724 shares of the investment management company’s stock worth $263,000 after buying an additional 1,196 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.