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

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 changing hands.

NXG Cushing Midstream Energy Fund Stock Up 0.2%

The firm has a 50 day simple moving average of $42.65 and a two-hundred day simple moving average of $42.29.

NXG Cushing Midstream Energy Fund Announces Dividend

The company also recently declared 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) dividend on an annualized basis and a dividend yield of 11.8%. The ex-dividend date is Friday, May 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in NXG Cushing Midstream Energy Fund in the second quarter valued at approximately $42,000. Parkside Financial Bank & Trust acquired a new position in shares of NXG Cushing Midstream Energy Fund in the 3rd quarter valued at $46,000. Keener Financial Planning LLC acquired a new position in shares of NXG Cushing Midstream Energy Fund in the 3rd quarter valued at $50,000. Symphony Financial Services Inc. bought a new stake in shares of NXG Cushing Midstream Energy Fund in the 4th quarter valued at $207,000. Finally, Janney Montgomery Scott LLC raised its stake in 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 worth $245,000 after buying an additional 1,076 shares during the period.

NXG Cushing Midstream Energy Fund Company Profile

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.