NXG Cushing Midstream Energy Fund (NYSE:SRV) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

NXG Cushing Midstream Energy Fund (NYSE:SRV) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $44.76 and traded as high as $51.54. NXG Cushing Midstream Energy Fund shares last traded at $49.9750, with a volume of 111,541 shares trading hands.

NXG Cushing Midstream Energy Fund Stock Down 2.9%

The company has a fifty day moving average price of $48.66 and a 200-day moving average price of $44.84.

NXG Cushing Midstream Energy Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 12.1%.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of NXG Cushing Midstream Energy Fund in the 2nd quarter valued at $42,000. Private Advisor Group LLC grew its position in NXG Cushing Midstream Energy Fund by 9.4% during the third quarter. Private Advisor Group LLC now owns 6,131 shares of the investment management company’s stock valued at $282,000 after buying an additional 525 shares during the period. Focus Financial Network Inc. increased its holdings in NXG Cushing Midstream Energy Fund by 61.1% in the fourth quarter. Focus Financial Network Inc. now owns 12,102 shares of the investment management company’s stock valued at $473,000 after buying an additional 4,590 shares in the last quarter. Stratos Wealth Advisors LLC increased its holdings in NXG Cushing Midstream Energy Fund by 33.3% in the fourth quarter. Stratos Wealth Advisors LLC now owns 9,285 shares of the investment management company’s stock valued at $363,000 after buying an additional 2,321 shares in the last quarter. Finally, Absolute Investment Advisers LLC acquired a new position in shares of NXG Cushing Midstream Energy Fund in the fourth quarter worth about $2,929,000.

About NXG Cushing Midstream Energy Fund

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.