NXG NextGen Infrastructure Income Fund (NYSE:NXG) Shares Up 1.1% – Here’s Why

NXG NextGen Infrastructure Income Fund (NYSE:NXG) shares were up 1.1% during trading on Thursday . The stock traded as high as $50.96 and last traded at $50.64. Approximately 39,570 shares changed hands during mid-day trading, an increase of 11% from the average daily volume of 35,787 shares. The stock had previously closed at $50.11.

NXG NextGen Infrastructure Income Fund Price Performance

The business has a 50-day moving average of $47.17 and a 200 day moving average of $43.24.

NXG NextGen Infrastructure Income Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.54 per share. The ex-dividend date is Thursday, January 16th. This represents a $6.48 annualized dividend and a dividend yield of 12.93%. NXG NextGen Infrastructure Income Fund’s dividend payout ratio is -2,700.00%.

Hedge Funds Weigh In On NXG NextGen Infrastructure Income Fund

A number of large investors have recently modified their holdings of NXG. Oppenheimer & Co. Inc. acquired a new position in NXG NextGen Infrastructure Income Fund during the 3rd quarter valued at about $202,000. Valeo Financial Advisors LLC bought a new position in shares of NXG NextGen Infrastructure Income Fund in the third quarter valued at approximately $294,000. Private Advisor Group LLC bought a new position in shares of NXG NextGen Infrastructure Income Fund in the third quarter valued at approximately $329,000. J.W. Cole Advisors Inc. purchased a new position in shares of NXG NextGen Infrastructure Income Fund during the third quarter valued at approximately $671,000. Finally, Janney Montgomery Scott LLC grew its holdings in NXG NextGen Infrastructure Income Fund by 157.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 25,090 shares of the company’s stock worth $1,149,000 after buying an additional 15,340 shares in the last quarter.

About NXG NextGen Infrastructure Income Fund

NXG NextGen Infrastructure Income Fund is a closed ended equity mutual fund launched and managed by Cushing MLP Asset Management, LP. The fund invests in stocks of companies across the energy supply chain spectrum, including upstream, midstream and downstream energy companies, as well as oil and gas services and logistics companies, energy-intensive chemical, metal and industrial and manufacturing companies and engineering and construction companies.