NXG NextGen Infrastructure Income Fund (NYSE:NXG) Sees Large Growth in Short Interest

NXG NextGen Infrastructure Income Fund (NYSE:NXG) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 156,151 shares, an increase 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 currently 2.6 days.

Insider Buying and Selling at NXG NextGen Infrastructure Income Fund

In other NXG NextGen Infrastructure Income Fund news, insider Jerry V. Swank purchased 10,000 shares of the business’s stock in a transaction dated Friday, October 23rd. The shares were bought at an average price of $43.95 per share, with a total value of $439,500.00. Following the completion of the acquisition, the insider owned 55,200 shares in the company, valued at approximately $2,426,040. This represents a 22.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Nelson acquired 900 shares of the firm’s stock in a transaction that occurred on Friday, October 23rd. The stock was acquired at an average cost of $43.98 per share, with a total value of $39,582.00. Following the completion of the acquisition, the chief financial officer directly owned 1,948 shares in the company, valued at approximately $85,673.04. This represents a 85.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 11,900 shares of company stock worth $525,582 in the last ninety days.

Hedge Funds Weigh In On NXG NextGen Infrastructure Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp acquired a new position in NXG NextGen Infrastructure Income Fund during the 1st quarter valued at about $5,066,000. Janney Montgomery Scott LLC grew its stake in shares of NXG NextGen Infrastructure Income Fund by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 70,070 shares of the company’s stock worth $3,849,000 after purchasing an additional 1,167 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of NXG NextGen Infrastructure Income Fund by 10.7% in the 2nd quarter. CoreCap Advisors LLC now owns 58,510 shares of the company’s stock worth $3,786,000 after purchasing an additional 5,670 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of NXG NextGen Infrastructure Income Fund in the 2nd quarter worth approximately $1,198,000. Finally, Integrated Wealth Concepts LLC lifted its stake in NXG NextGen Infrastructure Income Fund by 106.4% during the second quarter. Integrated Wealth Concepts LLC now owns 13,020 shares of the company’s stock valued at $843,000 after purchasing an additional 6,711 shares during the last quarter.

NXG NextGen Infrastructure Income Fund Price Performance

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

NXG NextGen Infrastructure Income Fund Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 15.0%. NXG NextGen Infrastructure Income Fund’s dividend payout ratio is presently -3,075.00%.

About NXG NextGen Infrastructure Income Fund

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.