Short Interest in NXG Cushing Midstream Energy Fund (NYSE:SRV) Expands By 111.4%

NXG Cushing Midstream Energy Fund (NYSE:SRV) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 69,126 shares, a growth of 111.4% from the June 30th total of 32,703 shares. Based on an average daily volume of 68,861 shares, the days-to-cover ratio is currently 1.0 days.

NXG Cushing Midstream Energy Fund Stock Performance

NYSE SRV traded down $0.89 during mid-day trading on Tuesday, hitting $46.70. The company’s stock had a trading volume of 62,201 shares, compared to its average volume of 62,598. The company’s 50 day simple moving average is $48.62 and its 200 day simple moving average is $45.42. NXG Cushing Midstream Energy Fund has a twelve month low of $38.11 and a twelve month 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. Investors of record on Monday, August 17th will be issued a dividend of $0.50 per share. This represents a c) dividend on an annualized basis and a yield of 12.8%. The ex-dividend date is Monday, August 17th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Sit Investment Associates Inc. bought a new position in NXG Cushing Midstream Energy Fund during the fourth quarter valued at about $12,620,000. Absolute Investment Advisers LLC bought a new stake in NXG Cushing Midstream Energy Fund in the fourth quarter worth about $2,929,000. Kovack Advisors Inc. purchased a new position in NXG Cushing Midstream Energy Fund in the fourth quarter valued at about $2,056,000. NWF Advisory Services Inc. boosted its stake in NXG Cushing Midstream Energy Fund by 106.9% in the first quarter. NWF Advisory Services Inc. now owns 32,160 shares of the investment management company’s stock valued at $1,431,000 after acquiring an additional 16,620 shares during the last quarter. Finally, Quarry LP bought a new position in shares of NXG Cushing Midstream Energy Fund during the 4th quarter valued at approximately $598,000.

About NXG Cushing Midstream Energy Fund

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.