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

NXG Cushing Midstream Energy Fund (NYSE:SRV)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.29 and traded as high as $50.01. NXG Cushing Midstream Energy Fund shares last traded at $48.8870, with a volume of 41,805 shares.

NXG Cushing Midstream Energy Fund Trading Down 0.2%

The business’s 50-day simple moving average is $48.24 and its 200 day simple moving average is $44.29.

NXG Cushing Midstream Energy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.50 per share. This represents a c) annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend is Monday, August 17th.

Institutional Trading of NXG Cushing Midstream Energy Fund

A number of hedge funds have recently bought and sold shares of SRV. Fifth Third Bancorp purchased a new position in shares of NXG Cushing Midstream Energy Fund in the 1st quarter valued at $25,000. Raymond James Financial Inc. purchased a new stake in shares of NXG Cushing Midstream Energy Fund during the 2nd quarter worth $42,000. Symphony Financial Services Inc. bought a new stake in NXG Cushing Midstream Energy Fund during the fourth quarter valued at about $207,000. Janney Montgomery Scott LLC boosted its position in NXG Cushing Midstream Energy Fund by 20.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 6,280 shares of the investment management company’s stock valued at $245,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in NXG Cushing Midstream Energy Fund by 21.6% in the fourth quarter. Jane Street Group LLC now owns 6,724 shares of the investment management company’s stock valued at $263,000 after purchasing an additional 1,196 shares during the last quarter.

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.