NXG NextGen Infrastructure Income Fund (NYSE:NXG) Stock Price Down 1.9%

NXG NextGen Infrastructure Income Fund (NYSE:NXG)’s share price dropped 1.9% during mid-day trading on Wednesday . The company traded as low as $38.48 and last traded at $38.90. Approximately 31,981 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 25,426 shares. The stock had previously closed at $39.64.

NXG NextGen Infrastructure Income Fund Price Performance

The stock’s 50-day moving average is $38.27.

NXG NextGen Infrastructure Income Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be given a $0.54 dividend. This represents a $6.48 dividend on an annualized basis and a yield of 16.66%. The ex-dividend date of this dividend is Tuesday, May 14th. NXG NextGen Infrastructure Income Fund’s dividend payout ratio is presently -2,362.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NXG. Blue Bell Private Wealth Management LLC grew its stake in NXG NextGen Infrastructure Income Fund by 25.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 1,640 shares of the company’s stock valued at $58,000 after purchasing an additional 333 shares in the last quarter. Clough Capital Partners L P bought a new position in NXG NextGen Infrastructure Income Fund in the third quarter valued at approximately $238,000. Atria Wealth Solutions Inc. grew its stake in NXG NextGen Infrastructure Income Fund by 23.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 7,942 shares of the company’s stock valued at $282,000 after purchasing an additional 1,501 shares in the last quarter. Almitas Capital LLC grew its stake in NXG NextGen Infrastructure Income Fund by 5.2% in the third quarter. Almitas Capital LLC now owns 92,355 shares of the company’s stock valued at $3,463,000 after purchasing an additional 4,571 shares in the last quarter. Finally, Saba Capital Management L.P. grew its stake in NXG NextGen Infrastructure Income Fund by 2.6% in the third quarter. Saba Capital Management L.P. now owns 121,028 shares of the company’s stock valued at $4,539,000 after purchasing an additional 3,061 shares in the last quarter.

NXG NextGen Infrastructure Income Fund Company Profile

NXG NextGen Infrastructure Income Fund is a closed ended equity mutual fund launched and managed by Cushing MLP Asset Management, LP. The fund invests in stocks of companies across the energy supply chain spectrum, including upstream, midstream and downstream energy companies, as well as oil and gas services and logistics companies, energy-intensive chemical, metal and industrial and manufacturing companies and engineering and construction companies.