NXG Cushing Midstream Energy Fund (SRV) to Issue Monthly Dividend of $0.45 on May 30th

Posted by Chris Copeland on Feb 7th, 2025

NXG Cushing Midstream Energy Fund (NYSE:SRV – Get Free Report) announced a monthly dividend on Wednesday, February 5th,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 annualized dividend and a yield of 11.57%. 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 Trading Up 0.2 %

Shares of SRV opened at $46.66 on Friday. The stock has a 50-day moving average price of $45.65 and a 200-day moving average price of $44.27. NXG Cushing Midstream Energy Fund has a 12-month low of $34.42 and a 12-month high of $50.61.

Insider Activity

In other news, insider John Alban sold 1,090 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $44.76, for a total transaction of $48,788.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John M. Musgrave purchased 773 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $41.80 per share, for a total transaction of $32,311.40. Following the completion of the transaction, the chief executive officer now directly owns 3,095 shares of the company’s stock, valued at $129,371. This represents a 33.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 968 shares of company stock worth $40,462.

NXG Cushing Midstream Energy Fund Company Profile

(Get Free Report)

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.