NXG Cushing Midstream Energy Fund (NYSE:SRV) Stock Passes Above 200 Day Moving Average – Here’s Why

NXG Cushing Midstream Energy Fund (NYSE:SRV)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $44.29 and traded as high as $50.01. NXG Cushing Midstream Energy Fund shares last traded at $48.8870, with a volume of 41,805 shares changing hands.

NXG Cushing Midstream Energy Fund Stock Performance

The firm’s 50 day simple moving average is $48.24 and its 200 day simple moving average is $44.29.

NXG Cushing Midstream Energy Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%.

Institutional Trading of NXG Cushing Midstream Energy Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of NXG Cushing Midstream Energy Fund in the second quarter worth about $42,000. Consolidated Portfolio Review Corp purchased a new stake in NXG Cushing Midstream Energy Fund in the 3rd quarter valued at about $453,000. Private Advisor Group LLC boosted its position in 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 buying an additional 525 shares during the period. Focus Financial Network Inc. grew its stake in NXG Cushing Midstream Energy Fund by 61.1% in the 4th quarter. Focus Financial Network Inc. now owns 12,102 shares of the investment management company’s stock worth $473,000 after acquiring an additional 4,590 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its position in shares of NXG Cushing Midstream Energy Fund by 33.3% during the fourth quarter. Stratos Wealth Advisors LLC now owns 9,285 shares of the investment management company’s stock worth $363,000 after acquiring an additional 2,321 shares during the period.

About NXG Cushing Midstream Energy Fund

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.