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

Posted by Liza Goodheart on Feb 7th, 2025

NXG Cushing Midstream Energy Fund (NYSE:SRV – Get Free Report) announced a monthly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 11.57%. The ex-dividend date is Thursday, May 15th.

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

NXG Cushing Midstream Energy Fund Trading Up 0.2 %

Shares of NYSE SRV opened at $46.66 on Friday. The business’s 50 day moving average price is $45.65 and its 200-day moving average price is $44.27. NXG Cushing Midstream Energy Fund has a fifty-two week low of $34.42 and a fifty-two week high of $50.61.

Insiders Place Their Bets

In other news, CEO John M. Musgrave purchased 773 shares of the stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $41.80 per share, for a total transaction 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Alban sold 1,090 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were 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 have acquired a total of 968 shares of company stock worth $40,462 in the last three months.

About NXG Cushing Midstream Energy Fund

(Get Free Report)

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.