NXG Cushing Midstream Energy Fund (NYSE:SRV) Stock Price Passes Above 200 Day Moving Average – What’s Next?

NXG Cushing Midstream Energy Fund (NYSE:SRV) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $42.16 and traded as high as $44.23. NXG Cushing Midstream Energy Fund shares last traded at $43.39, with a volume of 65,720 shares changing hands.

NXG Cushing Midstream Energy Fund Price Performance

The firm’s 50-day moving average is $41.23 and its 200-day moving average is $42.15.

NXG Cushing Midstream Energy Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Friday, May 15th.

Institutional Trading of NXG Cushing Midstream Energy Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRV. Sit Investment Associates Inc. purchased a new stake in shares of NXG Cushing Midstream Energy Fund in the fourth quarter worth approximately $12,620,000. Absolute Investment Advisers LLC purchased a new position in shares of NXG Cushing Midstream Energy Fund during the fourth quarter valued at approximately $2,929,000. Kovack Advisors Inc. bought a new stake in NXG Cushing Midstream Energy Fund during the fourth quarter worth $2,056,000. Summit Financial LLC raised its position in NXG Cushing Midstream Energy Fund by 17.5% in the 4th quarter. Summit Financial LLC now owns 50,867 shares of the investment management company’s stock valued at $1,986,000 after buying an additional 7,589 shares during the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in NXG Cushing Midstream Energy Fund by 11.6% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 37,895 shares of the investment management company’s stock valued at $1,741,000 after buying an additional 3,940 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.