Short Interest in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Decreases By 26.4%

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 3,900 shares, a decrease of 26.4% from the September 30th total of 5,300 shares. Based on an average trading volume of 12,100 shares, the short-interest ratio is presently 0.3 days.

Insiders Place Their Bets

In other Tortoise Midstream Energy Fund news, major shareholder Saba Capital Management, L.P. bought 4,725 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were purchased at an average cost of $44.84 per share, for a total transaction of $211,869.00. Following the transaction, the insider now directly owns 515,767 shares of the company’s stock, valued at approximately $23,126,992.28. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NTG. Northwestern Mutual Wealth Management Co. lifted 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 valued at $43,000 after purchasing an additional 975 shares in the last quarter. Everett Harris & Co. CA purchased a new stake in shares of Tortoise Midstream Energy Fund during the first quarter worth $203,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Tortoise Midstream Energy Fund in the second quarter valued at about $216,000. Matisse Capital purchased a new position in shares of Tortoise Midstream Energy Fund in the first quarter worth about $238,000. Finally, Moors & Cabot Inc. lifted its stake in shares of Tortoise Midstream Energy Fund by 13.3% in the second quarter. Moors & Cabot Inc. now owns 8,500 shares of the investment management company’s stock worth $365,000 after buying an additional 1,000 shares in the last quarter.

Tortoise Midstream Energy Fund Price Performance

NYSE NTG traded up $0.13 on Friday, hitting $50.46. The company had a trading volume of 4,895 shares, compared to its average volume of 12,886. The company’s fifty day moving average price is $47.42 and its 200-day moving average price is $43.24. Tortoise Midstream Energy Fund has a 12-month low of $32.56 and a 12-month high of $50.81.

Tortoise Midstream Energy Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.81 per share. The ex-dividend date was Friday, August 23rd. This represents a $3.24 dividend on an annualized basis and a dividend yield of 6.42%. This is a boost from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. Tortoise Midstream Energy Fund’s payout ratio is currently -10,475.77%.

About Tortoise Midstream Energy Fund

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.