Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Short Interest Down 61.4% in July

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 5,400 shares, a drop of 61.4% from the June 30th total of 14,000 shares. Based on an average trading volume of 13,300 shares, the days-to-cover ratio is currently 0.4 days.

Tortoise Midstream Energy Fund Price Performance

Shares of NYSE NTG traded down $0.50 during mid-day trading on Thursday, reaching $42.85. 6,242 shares of the company traded hands, compared to its average volume of 13,256. Tortoise Midstream Energy Fund has a fifty-two week low of $31.54 and a fifty-two week high of $44.95. The stock has a fifty day simple moving average of $41.50 and a 200-day simple moving average of $38.45.

Tortoise Midstream Energy Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 24th were paid a dividend of $0.77 per share. The ex-dividend date was Thursday, May 23rd. This represents a $3.08 dividend on an annualized basis and a dividend yield of 7.19%. Tortoise Midstream Energy Fund’s dividend payout ratio is presently -10,341.47%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Calamos Advisors LLC increased its stake in shares of Tortoise Midstream Energy Fund by 33.7% during the second quarter. Calamos Advisors LLC now owns 9,366 shares of the investment management company’s stock valued at $402,000 after acquiring an additional 2,360 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Tortoise Midstream Energy Fund in the second quarter worth approximately $216,000. Advisors Asset Management Inc. grew its position in Tortoise Midstream Energy Fund by 1.6% in the first quarter. Advisors Asset Management Inc. now owns 79,903 shares of the investment management company’s stock worth $3,063,000 after buying an additional 1,249 shares during the last quarter. Meixler Investment Management Ltd. grew its position in Tortoise Midstream Energy Fund by 10.8% in the first quarter. Meixler Investment Management Ltd. now owns 104,833 shares of the investment management company’s stock worth $4,018,000 after buying an additional 10,217 shares during the last quarter. Finally, Matisse Capital acquired a new position in Tortoise Midstream Energy Fund in the first quarter worth approximately $238,000.

About Tortoise Midstream Energy Fund

Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.