NXG Cushing Midstream Energy Fund (NYSE:SRV) Short Interest Update

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

Hedge Funds Weigh In On NXG Cushing Midstream Energy Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new position in NXG Cushing Midstream Energy Fund in the first quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in shares of NXG Cushing Midstream Energy Fund in the 2nd quarter valued at approximately $42,000. Symphony Financial Services Inc. acquired a new stake in shares of NXG Cushing Midstream Energy Fund in the 4th quarter valued at $207,000. Private Advisor Group LLC raised its holdings in shares of NXG Cushing Midstream Energy Fund by 9.4% in the 3rd quarter. Private Advisor Group LLC now owns 6,131 shares of the investment management company’s stock valued at $282,000 after purchasing an additional 525 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of NXG Cushing Midstream Energy Fund by 20.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 6,280 shares of the investment management company’s stock worth $245,000 after purchasing an additional 1,076 shares during the last quarter.

NXG Cushing Midstream Energy Fund Stock Down 2.7%

NYSE SRV traded down $1.39 on Wednesday, reaching $49.51. The stock had a trading volume of 48,073 shares, compared to its average volume of 60,568. NXG Cushing Midstream Energy Fund has a 12-month low of $38.11 and a 12-month high of $51.54. The stock has a fifty day moving average price of $48.66 and a two-hundred day moving average price of $44.84.

NXG Cushing Midstream Energy Fund Dividend Announcement

The company also recently announced 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) dividend on an annualized basis and a yield of 12.1%. The ex-dividend date is Monday, August 17th.

NXG Cushing Midstream Energy Fund Company Profile

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.