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

NXG Cushing Midstream Energy Fund (NYSE:SRV) was the target of a large 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 trading volume, of 65,851 shares, the short-interest ratio is presently 0.5 days.

NXG Cushing Midstream Energy Fund Stock Performance

NYSE:SRV traded down $0.72 during mid-day trading on Friday, hitting $47.64. 258,262 shares of the company’s stock traded hands, compared to its average volume of 62,604. The firm’s 50 day simple moving average is $48.68 and its 200 day simple moving average is $44.95. NXG Cushing Midstream Energy Fund has a 1 year low of $38.11 and a 1 year high of $51.54.

NXG Cushing Midstream Energy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a $0.50 dividend. The ex-dividend date is Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 12.6%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SRV. Symphony Financial Services Inc. lifted its stake in NXG Cushing Midstream Energy Fund by 7.1% in the 1st quarter. Symphony Financial Services Inc. now owns 5,672 shares of the investment management company’s stock valued at $252,000 after buying an additional 378 shares in the last quarter. Royal Bank of Canada increased its position in NXG Cushing Midstream Energy Fund by 3.3% during the fourth quarter. Royal Bank of Canada now owns 12,444 shares of the investment management company’s stock worth $486,000 after buying an additional 400 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of NXG Cushing Midstream Energy Fund by 2.5% in the fourth quarter. Stifel Financial Corp now owns 20,328 shares of the investment management company’s stock worth $794,000 after acquiring an additional 501 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of NXG Cushing Midstream Energy Fund by 9.4% in the third quarter. Private Advisor Group LLC now owns 6,131 shares of the investment management company’s stock worth $282,000 after acquiring an additional 525 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in shares of NXG Cushing Midstream Energy Fund in the first quarter worth $25,000.

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.