Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Short Interest Up 21.9% in May

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG – Get Rating) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 13,900 shares, an increase of 21.9% from the May 15th total of 11,400 shares. Based on an average trading volume of 20,400 shares, the days-to-cover ratio is currently 0.7 days.

Several hedge funds and other institutional investors have recently modified their holdings of NTG. Advisors Asset Management Inc. bought a new position in shares of Tortoise Midstream Energy Fund during the fourth quarter valued at $111,000. Moors & Cabot Inc. bought a new position in shares of Tortoise Midstream Energy Fund during the third quarter valued at $152,000. City of London Investment Management Co. Ltd. bought a new position in shares of Tortoise Midstream Energy Fund during the first quarter valued at $204,000. Arete Wealth Advisors LLC bought a new position in shares of Tortoise Midstream Energy Fund during the fourth quarter valued at $208,000. Finally, Foster Victor Wealth Advisors LLC bought a new position in shares of Tortoise Midstream Energy Fund during the fourth quarter valued at $274,000.

Shares of NYSE NTG traded down $1.14 during midday trading on Friday, reaching $30.32. 1,402 shares of the company traded hands, compared to its average volume of 22,514. The stock’s 50-day simple moving average is $37.23 and its 200-day simple moving average is $34.73. Tortoise Midstream Energy Fund has a 12 month low of $25.78 and a 12 month high of $40.61.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Tuesday, May 24th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, May 23rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 10.16%.

Tortoise Midstream Energy Fund Company Profile (Get Rating)

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.

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