Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Sees Significant Growth in Short Interest

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 9,600 shares, an increase of 190.9% from the August 31st total of 3,300 shares. Based on an average daily volume of 14,600 shares, the days-to-cover ratio is presently 0.7 days.

Insider Transactions at Tortoise Midstream Energy Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 4,725 shares of the company’s stock in a transaction on Friday, August 30th. The shares were acquired at an average cost of $44.84 per share, for a total transaction of $211,869.00. Following the purchase, the insider now owns 515,767 shares in the company, valued at $23,126,992.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Institutional Investors Weigh In On Tortoise Midstream Energy Fund

Large investors have recently modified their holdings of the stock. Financial Advocates Investment Management increased its holdings in Tortoise Midstream Energy Fund by 1.3% in the 2nd quarter. Financial Advocates Investment Management now owns 20,166 shares of the investment management company’s stock worth $866,000 after acquiring an additional 259 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Tortoise Midstream Energy Fund by 3.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,400 shares of the investment management company’s stock valued at $362,000 after purchasing an additional 375 shares during the period. Matisse Capital lifted its stake in shares of Tortoise Midstream Energy Fund by 7.0% during the 2nd quarter. Matisse Capital now owns 6,655 shares of the investment management company’s stock valued at $286,000 after buying an additional 435 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of Tortoise Midstream Energy Fund during the 4th quarter valued at approximately $32,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Tortoise Midstream Energy Fund by 3,900.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the investment management company’s stock worth $43,000 after buying an additional 975 shares during the period.

Tortoise Midstream Energy Fund Trading Up 0.2 %

Shares of NYSE NTG traded up $0.08 during mid-day trading on Wednesday, reaching $48.78. 16,447 shares of the company’s stock were exchanged, compared to its average volume of 13,348. The firm has a 50-day moving average price of $44.65 and a two-hundred day moving average price of $41.41. Tortoise Midstream Energy Fund has a 52 week low of $31.54 and a 52 week high of $49.48.

Tortoise Midstream Energy Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 6.64%. This is a boost from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, August 23rd. Tortoise Midstream Energy Fund’s payout ratio is presently -10,475.77%.

Tortoise Midstream Energy Fund Company Profile

Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.