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

Posted by Casey Walker on Feb 5th, 2025

NXG Cushing Midstream Energy Fund (NYSE:SRV – Get Free Report) declared a monthly dividend on Monday, February 3rd,NASDAQ Dividends reports. Investors of record on Tuesday, February 18th will be paid a dividend of 0.45 per share by the investment management company on Friday, February 28th. This represents a $5.40 dividend on an annualized basis and a yield of 11.69%. The ex-dividend date is Tuesday, February 18th.

NXG Cushing Midstream Energy Fund has raised its dividend payment by an average of 55.4% annually over the last three years.

NXG Cushing Midstream Energy Fund Stock Performance

Shares of SRV traded up $0.45 on Tuesday, reaching $46.20. 28,205 shares of the stock traded hands, compared to its average volume of 41,132. The stock’s 50-day moving average price is $45.60 and its 200-day moving average price is $44.23. NXG Cushing Midstream Energy Fund has a 12 month low of $34.10 and a 12 month high of $50.61.

Insider Activity

In related news, CEO John M. Musgrave purchased 773 shares of the firm’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 completion of the purchase, the chief executive officer now directly owns 3,095 shares of the company’s stock, valued at $129,371. This trade represents a 33.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Alban sold 1,090 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $44.76, for a total value of $48,788.40. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 968 shares of company stock worth $40,462.

NXG Cushing Midstream Energy Fund Company Profile

(Get Free Report)

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.