NXG Cushing Midstream Energy Fund (NYSE:SRV) Declares Monthly Dividend of $0.45

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

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

NXG Cushing Midstream Energy Fund Stock Up 0.8 %

Shares of NYSE:SRV opened at $46.55 on Thursday. NXG Cushing Midstream Energy Fund has a fifty-two week low of $34.42 and a fifty-two week high of $50.61. The firm has a 50-day simple moving average of $45.62 and a 200 day simple moving average of $44.25.

Insiders Place Their Bets

In other NXG Cushing Midstream Energy Fund news, insider John Alban sold 1,090 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $44.76, for a total value of $48,788.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John M. Musgrave bought 773 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average price of $41.80 per share, with a total value of $32,311.40. Following the transaction, the chief executive officer now owns 3,095 shares in the company, valued at $129,371. The trade was a 33.29 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 968 shares of company stock worth $40,462.

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.