NXG Cushing Midstream Energy Fund (SRV) to Issue Monthly Dividend of $0.45 on May 30th

NXG Cushing Midstream Energy Fund (NYSE:SRV) declared a monthly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Thursday, May 15th will be given a dividend of 0.45 per share by the investment management company on Friday, May 30th. This represents a $5.40 annualized dividend and a dividend yield of 11.60%. The ex-dividend date is Thursday, May 15th.

NXG Cushing Midstream Energy Fund has raised its dividend payment by an average of 55.4% annually over the last three years.

NXG Cushing Midstream Energy Fund Stock Performance

NYSE:SRV opened at $46.55 on Thursday. The firm’s fifty day simple moving average is $45.62 and its 200 day simple moving average is $44.25. NXG Cushing Midstream Energy Fund has a twelve month low of $34.42 and a twelve month high of $50.61.

Insiders Place Their Bets

In other news, CEO John M. Musgrave acquired 773 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average price of $41.80 per share, for a total transaction of $32,311.40. Following the acquisition, the chief executive officer now directly owns 3,095 shares of the company’s stock, valued at $129,371. This represents a 33.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Alban sold 1,090 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was 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. Insiders have bought 968 shares of company stock worth $40,462 in the last quarter.

About NXG Cushing Midstream Energy Fund

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.