NXG Cushing Midstream Energy Fund (NYSE:SRV) Short Interest Down 48.1% in June

NXG Cushing Midstream Energy Fund (NYSE:SRV) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 32,703 shares, a decrease of 48.1% from the June 15th total of 63,006 shares. Based on an average daily volume of 65,851 shares, the short-interest ratio is currently 0.5 days.

NXG Cushing Midstream Energy Fund Stock Down 2.1%

Shares of NYSE:SRV traded down $1.05 during midday trading on Thursday, reaching $48.43. 107,024 shares of the company’s stock were exchanged, compared to its average volume of 61,144. NXG Cushing Midstream Energy Fund has a fifty-two week low of $38.11 and a fifty-two week high of $51.54. The firm’s 50 day simple moving average is $48.68 and its two-hundred day simple moving average is $44.95.

NXG Cushing Midstream Energy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 12.4%.

Hedge Funds Weigh In On NXG Cushing Midstream Energy Fund

Several large investors have recently made changes to their positions in the stock. Fifth Third Bancorp acquired a new stake in NXG Cushing Midstream Energy Fund in the 1st quarter valued at approximately $25,000. Raymond James Financial Inc. acquired a new position in NXG Cushing Midstream Energy Fund during the second quarter worth $42,000. Symphony Financial Services Inc. purchased a new position in shares of NXG Cushing Midstream Energy Fund during the fourth quarter worth $207,000. Janney Montgomery Scott LLC boosted its position in shares of 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 worth $245,000 after buying an additional 1,076 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of 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 buying an additional 1,196 shares in 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.