NXG Cushing Midstream Energy Fund (NYSE:SRV) Plans $0.45 Monthly Dividend

NXG Cushing Midstream Energy Fund (NYSE:SRV) declared a monthly dividend on Tuesday, February 4th,Wall Street Journal reports. Investors of record on Thursday, May 15th will be paid a dividend of 0.45 per share by the investment management company on Friday, May 30th. This represents a $5.40 dividend on an annualized basis and a yield of 11.69%. The ex-dividend date of this dividend is Thursday, May 15th.

NXG Cushing Midstream Energy Fund has raised its dividend by an average of 55.4% per year over the last three years.

NXG Cushing Midstream Energy Fund Price Performance

SRV traded up $0.45 during mid-day trading on Tuesday, reaching $46.20. 28,205 shares of the company traded hands, compared to its average volume of 41,132. NXG Cushing Midstream Energy Fund has a 52-week low of $34.10 and a 52-week high of $50.61. The company’s fifty day moving average price is $45.57 and its 200-day moving average price is $44.21.

Insider Transactions at NXG Cushing Midstream Energy Fund

In other news, CEO John M. Musgrave bought 773 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price 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 of the company’s stock, valued at approximately $129,371. This represents a 33.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Alban sold 1,090 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $44.76, for a total transaction of $48,788.40. The disclosure for this sale can be found here. Insiders purchased 968 shares of company stock worth $40,462 in the last three months.

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.