NXG Cushing Midstream Energy Fund (NYSE:SRV) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

NXG Cushing Midstream Energy Fund (NYSE:SRV)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $43.63 and traded as high as $47.01. NXG Cushing Midstream Energy Fund shares last traded at $47.01, with a volume of 47,696 shares changing hands.

NXG Cushing Midstream Energy Fund Trading Up 1.9 %

The company’s 50-day moving average is $44.42 and its two-hundred day moving average is $43.63.

NXG Cushing Midstream Energy Fund Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 27th were paid a $0.3148 dividend. This represents a dividend yield of 13.1%. The ex-dividend date was Friday, December 27th.

Insider Buying and Selling

In related news, insider John Alban sold 1,090 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $44.76, for a total value of $48,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John M. Musgrave purchased 773 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average cost of $41.80 per share, with a total value of $32,311.40. Following the acquisition, the chief executive officer now owns 3,095 shares in the company, valued at $129,371. The trade was a 33.29 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 968 shares of company stock valued at $40,462.

Hedge Funds Weigh In On NXG Cushing Midstream Energy Fund

A hedge fund recently raised its stake in NXG Cushing Midstream Energy Fund stock. Commonwealth Equity Services LLC increased its position in shares of NXG Cushing Midstream Energy Fund (NYSE:SRV) by 28.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,680 shares of the investment management company’s stock after buying an additional 1,474 shares during the period. Commonwealth Equity Services LLC’s holdings in NXG Cushing Midstream Energy Fund were worth $277,000 at the end of the most recent quarter.

NXG Cushing Midstream Energy Fund Company Profile

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.