NXG Cushing Midstream Energy Fund (NYSE:SRV) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

NXG Cushing Midstream Energy Fund (NYSE:SRV)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $42.84 and traded as high as $49.45. NXG Cushing Midstream Energy Fund shares last traded at $48.74, with a volume of 40,143 shares traded.

NXG Cushing Midstream Energy Fund Stock Up 0.4%

The firm’s 50-day moving average is $45.84 and its 200 day moving average is $42.84.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sit Investment Associates Inc. purchased a new stake in shares of NXG Cushing Midstream Energy Fund in the 4th quarter worth about $12,620,000. Absolute Investment Advisers LLC lifted its holdings in NXG Cushing Midstream Energy Fund by 32.5% in the 1st quarter. Absolute Investment Advisers LLC now owns 99,777 shares of the investment management company’s stock valued at $4,439,000 after purchasing an additional 24,497 shares in the last quarter. Kovack Advisors Inc. purchased a new position in NXG Cushing Midstream Energy Fund in the 4th quarter valued at about $2,056,000. Summit Financial LLC lifted its holdings in NXG Cushing Midstream Energy Fund by 17.5% in the 4th quarter. Summit Financial LLC now owns 50,867 shares of the investment management company’s stock valued at $1,986,000 after purchasing an additional 7,589 shares in the last quarter. Finally, J.W. Cole Advisors Inc. lifted its holdings in NXG Cushing Midstream Energy Fund by 11.6% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 37,895 shares of the investment management company’s stock valued at $1,741,000 after purchasing an additional 3,940 shares in the last quarter.

NXG Cushing Midstream Energy Fund Company Profile

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.