NXG NextGen Infrastructure Income Fund (NYSE:NXG) Stock Short Interest Rises 60.6%

NXG NextGen Infrastructure Income Fund (NYSE:NXG) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 156,151 shares, a growth of 60.6% from the September 30th total of 97,209 shares. Based on an average trading volume of 59,607 shares, the days-to-cover ratio is presently 2.6 days.

Insider Activity at NXG NextGen Infrastructure Income Fund

In other news, insider Jerry V. Swank purchased 10,000 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average price of $43.95 per share, with a total value of $439,500.00. Following the purchase, the insider owned 55,200 shares in the company, valued at $2,426,040. This represents a 22.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Portfolio Manager Todd Sunderland purchased 1,000 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were acquired at an average price of $46.50 per share, for a total transaction of $46,500.00. Following the purchase, the portfolio manager owned 4,283 shares in the company, valued at $199,159.50. The trade was a 30.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 11,900 shares of company stock valued at $525,582.

Institutional Trading of NXG NextGen Infrastructure Income Fund

Several large investors have recently made changes to their positions in NXG. Fifth Third Bancorp bought a new position in shares of NXG NextGen Infrastructure Income Fund during the 1st quarter valued at about $5,066,000. Cambridge Investment Research Advisors Inc. bought a new stake in NXG NextGen Infrastructure Income Fund during the second quarter worth about $1,198,000. Ausdal Financial Partners Inc. acquired a new stake in shares of NXG NextGen Infrastructure Income Fund in the 2nd quarter valued at approximately $819,000. IMC Chicago LLC bought a new stake in shares of NXG NextGen Infrastructure Income Fund in the 2nd quarter valued at about $627,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of NXG NextGen Infrastructure Income Fund in the second quarter valued at approximately $562,000.

NXG NextGen Infrastructure Income Fund Trading Up 1.3%

Shares of NYSE:NXG opened at $47.45 on Wednesday. NXG NextGen Infrastructure Income Fund has a 1 year low of $42.80 and a 1 year high of $65.78. The firm has a fifty day moving average price of $53.30 and a 200 day moving average price of $55.68.

NXG NextGen Infrastructure Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 15.2%. NXG NextGen Infrastructure Income Fund’s payout ratio is currently -3,075.00%.

About NXG NextGen Infrastructure Income Fund

NXG NextGen Infrastructure Income Fund is a publicly traded closed-end investment fund listed on the New York Stock Exchange. Rather than operating a conventional business, the fund invests in a portfolio of companies involved in infrastructure and related industries.

The fund seeks to provide investors with a high level of current income along with long-term capital appreciation. Its investments may include equity and income-producing securities issued by companies associated with energy, utilities, transportation, communications, industrial infrastructure and other essential infrastructure activities.

NXG may invest across multiple geographic regions and industry segments, giving shareholders exposure to infrastructure businesses that support the movement of energy, goods, information and other essential services.