NXG NextGen Infrastructure Income Fund (NYSE:NXG) Shares Shorted: Short Interest Up 60.6% in October

NXG NextGen Infrastructure Income Fund (NYSE:NXG) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 156,151 shares, a growth of 60.6% from the September 30th total of 97,209 shares. Based on an average daily volume of 59,607 shares, the days-to-cover ratio is presently 2.6 days.

NXG NextGen Infrastructure Income Fund Stock Down 0.7%

Shares of NYSE NXG traded down $0.34 during midday trading on Monday, reaching $48.16. 38,656 shares of the company’s stock were exchanged, compared to its average volume of 83,468. NXG NextGen Infrastructure Income Fund has a 52-week low of $42.80 and a 52-week high of $65.78. The business’s fifty day moving average price is $53.66 and its two-hundred day moving average price is $55.72.

NXG NextGen Infrastructure Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 16th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $7.20 dividend on an annualized basis and a yield of 15.0%. NXG NextGen Infrastructure Income Fund’s dividend payout ratio is currently -3,075.00%.

Insider Activity

In other news, Portfolio Manager Todd Sunderland acquired 1,000 shares of the business’s stock in a transaction on Monday, October 19th. The shares were purchased at an average price of $46.50 per share, for a total transaction of $46,500.00. Following the acquisition, the portfolio manager directly owned 4,283 shares of the company’s stock, valued at $199,159.50. This represents a 30.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Alban sold 500 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $55.24, for a total transaction of $27,620.00. Following the completion of the transaction, the director owned 88 shares in the company, valued at $4,861.12. This represents a 85.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired a total of 11,900 shares of company stock valued at $525,582 in the last 90 days.

Institutional Investors Weigh In On NXG NextGen Infrastructure Income Fund

A number of hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC boosted its stake in shares of NXG NextGen Infrastructure Income Fund by 8.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,741 shares of the company’s stock valued at $203,000 after buying an additional 293 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in shares of NXG NextGen Infrastructure Income Fund in the second quarter worth $57,000. Janney Montgomery Scott LLC raised its holdings in NXG NextGen Infrastructure Income Fund by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 70,070 shares of the company’s stock valued at $3,849,000 after acquiring an additional 1,167 shares in the last quarter. CoreCap Advisors LLC raised its holdings in NXG NextGen Infrastructure Income Fund by 5.0% in the third quarter. CoreCap Advisors LLC now owns 61,418 shares of the company’s stock valued at $3,340,000 after acquiring an additional 2,908 shares in the last quarter. Finally, Aristides Capital LLC acquired a new stake in NXG NextGen Infrastructure Income Fund in the first quarter valued at $231,000.

NXG NextGen Infrastructure Income Fund Company Profile

NXG NextGen Infrastructure Income Fund is a publicly traded closed-end investment fund listed on the New York Stock Exchange. Rather than operating a conventional business, the fund invests in a portfolio of companies involved in infrastructure and related industries.

The fund seeks to provide investors with a high level of current income along with long-term capital appreciation. Its investments may include equity and income-producing securities issued by companies associated with energy, utilities, transportation, communications, industrial infrastructure and other essential infrastructure activities.

NXG may invest across multiple geographic regions and industry segments, giving shareholders exposure to infrastructure businesses that support the movement of energy, goods, information and other essential services.