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

NXG Cushing Midstream Energy Fund (NYSE:SRV)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $44.39 and traded as high as $47.04. NXG Cushing Midstream Energy Fund shares last traded at $46.51, with a volume of 20,584 shares trading hands.

NXG Cushing Midstream Energy Fund Stock Down 0.5 %

The company’s fifty day moving average is $45.70 and its two-hundred day moving average is $44.39.

NXG Cushing Midstream Energy Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $5.40 dividend on an annualized basis and a yield of 11.61%.

Insiders Place Their Bets

In other NXG Cushing Midstream Energy Fund news, CEO John M. Musgrave bought 773 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $41.80 per share, with a total value of $32,311.40. Following the acquisition, the chief executive officer now directly owns 3,095 shares of the company’s stock, valued at $129,371. The trade was a 33.29 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Alban sold 1,090 shares of NXG Cushing Midstream Energy Fund stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $44.76, for a total transaction of $48,788.40. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 968 shares of company stock valued at $40,462.

Hedge Funds Weigh In On NXG Cushing Midstream Energy Fund

A number of institutional investors have recently modified their holdings of the business. LPL Financial LLC increased its holdings in shares of NXG Cushing Midstream Energy Fund by 10.3% in the 4th quarter. LPL Financial LLC now owns 55,781 shares of the investment management company’s stock valued at $2,481,000 after acquiring an additional 5,221 shares during the period. J.W. Cole Advisors Inc. increased its holdings in shares of NXG Cushing Midstream Energy Fund by 71.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 21,657 shares of the investment management company’s stock valued at $963,000 after acquiring an additional 9,002 shares during the period. Strategic Financial Concepts LLC purchased a new position in NXG Cushing Midstream Energy Fund in the 4th quarter valued at $594,000. Level Four Advisory Services LLC purchased a new position in NXG Cushing Midstream Energy Fund in the 4th quarter valued at $347,000. Finally, Private Advisor Group LLC purchased a new position in NXG Cushing Midstream Energy Fund in the 4th quarter valued at $256,000.

NXG Cushing Midstream Energy Fund Company Profile

NXG Cushing Midstream Energy Fund is a closed-ended balanced mutual fund launched by Swank Capital, LLC. The fund is managed by Swank Energy Income Advisors L.P. It invests in the public equity and fixed income markets across the globe with a focus in United States. The fund typically invests in MLPs, Other Natural Resource Companies, and global commodities.