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

Shares of NXG Cushing Midstream Energy Fund (NYSE:SRV) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.63 and traded as high as $47.52. NXG Cushing Midstream Energy Fund shares last traded at $45.86, with a volume of 48,853 shares trading hands.

NXG Cushing Midstream Energy Fund Trading Up 0.1%

The company’s fifty day moving average price is $47.26 and its 200-day moving average price is $43.63.

NXG Cushing Midstream Energy Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.50 dividend. This represents a c) annualized dividend and a yield of 13.1%. The ex-dividend date is Monday, August 17th.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp purchased a new position in shares of NXG Cushing Midstream Energy Fund during the 1st quarter valued at approximately $25,000. Symphony Financial Services Inc. raised its stake in NXG Cushing Midstream Energy Fund by 7.1% in the 1st quarter. Symphony Financial Services Inc. now owns 5,672 shares of the investment management company’s stock valued at $252,000 after purchasing an additional 378 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in NXG Cushing Midstream Energy Fund by 9.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,875 shares of the investment management company’s stock valued at $306,000 after purchasing an additional 595 shares in the last quarter. Private Advisor Group LLC lifted its holdings in NXG Cushing Midstream Energy Fund by 27.3% in the 1st quarter. Private Advisor Group LLC now owns 8,856 shares of the investment management company’s stock valued at $394,000 after purchasing an additional 1,900 shares in the last quarter. Finally, NWF Advisory Services Inc. lifted its holdings in NXG Cushing Midstream Energy Fund by 106.9% in the 1st quarter. NWF Advisory Services Inc. now owns 32,160 shares of the investment management company’s stock valued at $1,431,000 after purchasing an additional 16,620 shares in the last quarter.

NXG Cushing Midstream Energy Fund Company Profile

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.