NXG Cushing Midstream Energy Fund (SRV) to Issue Monthly Dividend of $0.50 on June 30th

NXG Cushing Midstream Energy Fund (NYSE:SRV) declared a monthly dividend on Tuesday, June 2nd. Stockholders of record on Monday, June 15th will be given a dividend of 0.50 per share by the investment management company on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 12.3%. The ex-dividend date of this dividend is Monday, June 15th. This is a 11.1% increase from NXG Cushing Midstream Energy Fund’s previous monthly dividend of $0.45.

NXG Cushing Midstream Energy Fund Stock Up 0.7%

Shares of NYSE:SRV opened at $48.75 on Friday. NXG Cushing Midstream Energy Fund has a 1 year low of $38.11 and a 1 year high of $51.43. The stock’s fifty day moving average price is $47.05 and its 200-day moving average price is $43.49.

Hedge Funds Weigh In On NXG Cushing Midstream Energy Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Symphony Financial Services Inc. boosted its holdings in shares of NXG Cushing Midstream Energy Fund by 7.1% during the 1st quarter. Symphony Financial Services Inc. now owns 5,672 shares of the investment management company’s stock valued at $252,000 after acquiring an additional 378 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of NXG Cushing Midstream Energy Fund by 3.3% during the fourth quarter. Royal Bank of Canada now owns 12,444 shares of the investment management company’s stock valued at $486,000 after purchasing an additional 400 shares during the last quarter. Cornerstone Advisors LLC lifted its position in NXG Cushing Midstream Energy Fund by 2.0% during the third quarter. Cornerstone Advisors LLC now owns 26,028 shares of the investment management company’s stock valued at $1,196,000 after purchasing an additional 500 shares during the period. Stifel Financial Corp lifted its position in NXG Cushing Midstream Energy Fund by 2.5% during the fourth quarter. Stifel Financial Corp now owns 20,328 shares of the investment management company’s stock valued at $794,000 after purchasing an additional 501 shares during the period. Finally, Private Advisor Group LLC boosted its holdings in 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.

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.