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

NXG Cushing Midstream Energy Fund (NYSE:SRV) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.22 and traded as high as $49.73. NXG Cushing Midstream Energy Fund shares last traded at $49.1620, with a volume of 60,683 shares changing hands.

NXG Cushing Midstream Energy Fund Price Performance

The business’s 50-day moving average price is $48.67 and its 200 day moving average price is $45.22.

NXG Cushing Midstream Energy Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.50 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date is Monday, August 17th.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

A number of institutional investors and hedge funds have recently made changes to their positions in SRV. Symphony Financial Services Inc. increased 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 worth $252,000 after acquiring an additional 378 shares during the last quarter. Royal Bank of Canada increased its position in shares of NXG Cushing Midstream Energy Fund by 3.3% in the fourth quarter. Royal Bank of Canada now owns 12,444 shares of the investment management company’s stock worth $486,000 after purchasing an additional 400 shares during the last quarter. Stifel Financial Corp increased its position in shares of NXG Cushing Midstream Energy Fund by 2.5% in the fourth quarter. Stifel Financial Corp now owns 20,328 shares of the investment management company’s stock worth $794,000 after purchasing an additional 501 shares during the last quarter. Private Advisor Group LLC increased its position in shares of NXG Cushing Midstream Energy Fund by 9.4% in the third quarter. Private Advisor Group LLC now owns 6,131 shares of the investment management company’s stock worth $282,000 after purchasing an additional 525 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in NXG Cushing Midstream Energy Fund in the first quarter valued at approximately $25,000.

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.