NXG Cushing Midstream Energy Fund (NYSE:SRV) Share Price Passes Above 200-Day Moving Average – Here’s Why

NXG Cushing Midstream Energy Fund (NYSE:SRV)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.35 and traded as high as $45.26. NXG Cushing Midstream Energy Fund shares last traded at $44.86, with a volume of 35,392 shares traded.

NXG Cushing Midstream Energy Fund Stock Performance

The firm’s 50-day simple moving average is $43.91 and its 200-day simple moving average is $43.36.

NXG Cushing Midstream Energy Fund Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 27th will be given a $0.3148 dividend. The ex-dividend date is Friday, December 27th. This represents a yield of 13.1%.

Insider Transactions at NXG Cushing Midstream Energy Fund

In other news, insider John Alban sold 1,090 shares of NXG Cushing Midstream Energy Fund stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $44.76, for a total value of $48,788.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John M. Musgrave bought 773 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were acquired 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 $129,371. This represents a 33.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 968 shares of company stock worth $40,462.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NXG Cushing Midstream Energy Fund stock. J.W. Cole Advisors Inc. purchased a new stake in shares of NXG Cushing Midstream Energy Fund (NYSE:SRV) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,655 shares of the investment management company’s stock, valued at approximately $570,000.

About NXG Cushing Midstream Energy Fund

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.