Short Interest in NXG Cushing Midstream Energy Fund (NYSE:SRV) Increases By 32.6%

NXG Cushing Midstream Energy Fund (NYSE:SRV) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 45,600 shares, a growth of 32.6% from the January 31st total of 34,400 shares. Based on an average daily volume of 40,300 shares, the short-interest ratio is currently 1.1 days.

NXG Cushing Midstream Energy Fund Stock Down 1.8 %

NYSE SRV opened at $42.63 on Thursday. The firm’s fifty day moving average price is $46.13 and its two-hundred day moving average price is $44.75. NXG Cushing Midstream Energy Fund has a 1 year low of $37.50 and a 1 year high of $50.61.

NXG Cushing Midstream Energy Fund Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, February 28th. Investors of record on Wednesday, February 19th were given a dividend of $0.45 per share. This represents a yield of 11.39%. The ex-dividend date of this dividend was Tuesday, February 18th.

Insiders Place Their Bets

In other NXG Cushing Midstream Energy Fund news, insider Jerry V. Swank sold 3,656 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $46.77, for a total value of $170,991.12. Following the completion of the sale, the insider now owns 6,529 shares of the company’s stock, valued at approximately $305,361.33. This represents a 35.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Alban sold 1,090 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $44.76, for a total transaction of $48,788.40. The disclosure for this sale can be found here.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

A number of large investors have recently bought and sold shares of SRV. Sit Investment Associates Inc. boosted its position in NXG Cushing Midstream Energy Fund by 3,678.4% during the 4th quarter. Sit Investment Associates Inc. now owns 292,675 shares of the investment management company’s stock worth $13,018,000 after buying an additional 284,929 shares during the period. LPL Financial LLC grew its position in NXG Cushing Midstream Energy Fund by 10.3% in the 4th quarter. LPL Financial LLC now owns 55,781 shares of the investment management company’s stock valued at $2,481,000 after purchasing an additional 5,221 shares during the period. J.W. Cole Advisors Inc. grew its position in NXG Cushing Midstream Energy Fund by 71.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 21,657 shares of the investment management company’s stock valued at $963,000 after purchasing an additional 9,002 shares during the period. Stifel Financial Corp grew its position in NXG Cushing Midstream Energy Fund by 44.0% in the 4th quarter. Stifel Financial Corp now owns 20,244 shares of the investment management company’s stock valued at $900,000 after purchasing an additional 6,185 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in NXG Cushing Midstream Energy Fund during the 4th quarter worth $594,000.

NXG Cushing Midstream Energy Fund Company Profile

NXG Cushing Midstream Energy Fund is a closed-ended balanced mutual fund launched by Swank Capital, LLC. The fund is managed by Swank Energy Income Advisors L.P. It invests in the public equity and fixed income markets across the globe with a focus in United States. The fund typically invests in MLPs, Other Natural Resource Companies, and global commodities.