NXG Cushing Midstream Energy Fund (NYSE:SRV) Short Interest Update

NXG Cushing Midstream Energy Fund (NYSE:SRV) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 32,703 shares, a decline of 48.1% from the June 15th total of 63,006 shares. Based on an average daily volume of 65,851 shares, the short-interest ratio is presently 0.5 days.

NXG Cushing Midstream Energy Fund Stock Down 2.7%

Shares of NXG Cushing Midstream Energy Fund stock traded down $1.39 on Wednesday, hitting $49.51. The stock had a trading volume of 48,073 shares, compared to its average volume of 60,568. NXG Cushing Midstream Energy Fund has a 52-week low of $38.11 and a 52-week high of $51.54. The company’s 50 day moving average price is $48.66 and its 200 day moving average price is $44.84.

NXG Cushing Midstream Energy Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a yield of 12.1%.

Hedge Funds Weigh In On NXG Cushing Midstream Energy Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp purchased a new position in NXG Cushing Midstream Energy Fund in the first quarter valued at about $25,000. Raymond James Financial Inc. purchased a new stake in NXG Cushing Midstream Energy Fund during the second quarter worth $42,000. Symphony Financial Services Inc. acquired a new stake in NXG Cushing Midstream Energy Fund in the fourth quarter valued at $207,000. Janney Montgomery Scott LLC increased its position in shares of NXG Cushing Midstream Energy Fund by 20.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,280 shares of the investment management company’s stock valued at $245,000 after buying an additional 1,076 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of NXG Cushing Midstream Energy Fund by 21.6% during the 4th quarter. Jane Street Group LLC now owns 6,724 shares of the investment management company’s stock worth $263,000 after buying an additional 1,196 shares during 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.