NXG Cushing Midstream Energy Fund (NYSE:SRV) Announces Monthly Dividend of $0.45

Posted by Casey Walker on Feb 4th, 2025

NXG Cushing Midstream Energy Fund (NYSE:SRV – Get Free Report) announced a monthly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Thursday, May 15th will be given a dividend of 0.45 per share by the investment management company on Friday, May 30th. This represents a $5.40 dividend on an annualized basis and a yield of 11.69%. The ex-dividend date is Thursday, May 15th.

NXG Cushing Midstream Energy Fund has increased its dividend by an average of 55.4% per year over the last three years.

NXG Cushing Midstream Energy Fund Stock Performance

NXG Cushing Midstream Energy Fund stock traded up $0.45 during midday trading on Tuesday, reaching $46.20. The stock had a trading volume of 28,205 shares, compared to its average volume of 41,132. NXG Cushing Midstream Energy Fund has a 52-week low of $34.10 and a 52-week high of $50.61. The company has a fifty day moving average of $45.57 and a 200 day moving average of $44.21.

Insider Buying and Selling

In related news, CEO John M. Musgrave bought 773 shares of NXG Cushing Midstream Energy Fund 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 completion of the transaction, the chief executive officer now owns 3,095 shares in the company, valued at $129,371. The trade was a 33.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John Alban sold 1,090 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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. Insiders have bought 968 shares of company stock valued at $40,462 in the last ninety days.

About NXG Cushing Midstream Energy Fund

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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.