NXG Cushing Midstream Energy Fund (NYSE:SRV) Shares Shorted: Short Interest Up 62.7% in October

NXG Cushing Midstream Energy Fund (NYSE:SRV) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 120,636 shares, a growth of 62.7% from the September 30th total of 74,138 shares. Based on an average trading volume of 44,674 shares, the days-to-cover ratio is currently 2.7 days.

NXG Cushing Midstream Energy Fund Stock Down 0.8%

SRV opened at $39.30 on Tuesday. The business’s fifty day simple moving average is $43.17 and its 200 day simple moving average is $45.14. NXG Cushing Midstream Energy Fund has a 52 week low of $37.29 and a 52 week high of $51.54.

NXG Cushing Midstream Energy Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a $0.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 15.3%. The ex-dividend date is Monday, November 16th.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

Several hedge funds have recently modified their holdings of SRV. NWF Advisory Services Inc. raised its position in shares of NXG Cushing Midstream Energy Fund by 26.0% in the second quarter. NWF Advisory Services Inc. now owns 40,510 shares of the investment management company’s stock valued at $2,029,000 after buying an additional 8,350 shares during the last quarter. Focus Financial Network Inc. boosted its position in NXG Cushing Midstream Energy Fund by 32.5% during the third quarter. Focus Financial Network Inc. now owns 31,798 shares of the investment management company’s stock worth $1,317,000 after acquiring an additional 7,797 shares during the last quarter. Advisory Solutions Group LLC purchased a new stake in NXG Cushing Midstream Energy Fund in the 2nd quarter worth approximately $771,000. NewEdge Advisors LLC grew its stake in NXG Cushing Midstream Energy Fund by 32.4% in the 2nd quarter. NewEdge Advisors LLC now owns 10,101 shares of the investment management company’s stock worth $506,000 after acquiring an additional 2,474 shares during the period. Finally, Private Advisor Group LLC grew its stake in NXG Cushing Midstream Energy Fund by 27.3% in the 1st quarter. Private Advisor Group LLC now owns 8,856 shares of the investment management company’s stock worth $394,000 after acquiring an additional 1,900 shares during the period.

NXG Cushing Midstream Energy Fund Company Profile

NXG Cushing Midstream Energy Fund (NYSE: SRV) is a publicly traded closed-end investment fund focused on the midstream energy infrastructure sector. The fund seeks to provide investors with total return, with an emphasis on generating current income through investments in companies involved in the transportation, storage, processing and gathering of energy commodities.

The fund invests primarily in equity securities and other financial instruments issued by midstream energy businesses, including master limited partnerships, corporations and other entities that own or operate pipelines, terminals, storage facilities and related infrastructure.