NXG Cushing Midstream Energy Fund (NYSE:SRV) Short Interest Down 33.7% in March

NXG Cushing Midstream Energy Fund (NYSE:SRV) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 39,000 shares, a decline of 33.7% from the March 15th total of 58,800 shares. Based on an average daily volume of 39,700 shares, the days-to-cover ratio is currently 1.0 days.

NXG Cushing Midstream Energy Fund Stock Up 0.4 %

NYSE:SRV traded up $0.16 during mid-day trading on Thursday, hitting $38.28. The stock had a trading volume of 38,197 shares, compared to its average volume of 32,345. NXG Cushing Midstream Energy Fund has a twelve month low of $34.24 and a twelve month high of $50.61. The stock has a 50-day simple moving average of $42.86 and a two-hundred day simple moving average of $44.33.

NXG Cushing Midstream Energy Fund Dividend Announcement

The company also recently disclosed a dividend, which was paid on Friday, February 28th. Stockholders of record on Wednesday, February 19th were issued a $0.45 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a dividend yield of 11.39%.

Insider Buying and Selling

In other news, insider Jerry V. Swank sold 3,656 shares of NXG Cushing Midstream Energy Fund stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $46.77, for a total value of $170,991.12. Following the completion of the transaction, the insider now owns 6,529 shares in the company, valued at approximately $305,361.33. This trade represents a 35.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On NXG Cushing Midstream Energy Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Armis Advisers LLC purchased a new stake in NXG Cushing Midstream Energy Fund during the 4th quarter worth about $212,000. CoreCap Advisors LLC lifted its stake in NXG Cushing Midstream Energy Fund by 65.4% during the fourth quarter. CoreCap Advisors LLC now owns 3,225 shares of the investment management company’s stock worth $143,000 after purchasing an additional 1,275 shares during the last quarter. Stifel Financial Corp lifted its stake in NXG Cushing Midstream Energy Fund by 44.0% during the fourth quarter. Stifel Financial Corp now owns 20,244 shares of the investment management company’s stock worth $900,000 after purchasing an additional 6,185 shares during the last quarter. LPL Financial LLC boosted its holdings in NXG Cushing Midstream Energy Fund by 10.3% in the fourth 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 in the last quarter. Finally, Sit Investment Associates Inc. increased its stake in NXG Cushing Midstream Energy Fund by 3,678.4% in the fourth quarter. Sit Investment Associates Inc. now owns 292,675 shares of the investment management company’s stock valued at $13,018,000 after purchasing an additional 284,929 shares during the last quarter.

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.