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

NXG Cushing Midstream Energy Fund (NYSE:SRV)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $43.63 and traded as high as $47.01. NXG Cushing Midstream Energy Fund shares last traded at $47.01, with a volume of 47,696 shares.

NXG Cushing Midstream Energy Fund Stock Up 2.7 %

The stock’s fifty day simple moving average is $44.55 and its two-hundred day simple moving average is $43.67.

NXG Cushing Midstream Energy Fund Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 27th were given a dividend of $0.3148 per share. This represents a yield of 13.1%. The ex-dividend date was Friday, December 27th.

Insider Buying and Selling at NXG Cushing Midstream Energy Fund

In other news, CEO John M. Musgrave bought 773 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of $41.80 per share, with a total value of $32,311.40. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Alban sold 1,090 shares of the firm’s stock in a transaction that occurred on 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. Over the last 90 days, insiders purchased 968 shares of company stock worth $40,462.

Institutional Investors Weigh In On NXG Cushing Midstream Energy Fund

An institutional investor recently raised its position in NXG Cushing Midstream Energy Fund stock. Commonwealth Equity Services LLC raised its stake in shares of NXG Cushing Midstream Energy Fund (NYSE:SRV) by 28.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,680 shares of the investment management company’s stock after acquiring an additional 1,474 shares during the period. Commonwealth Equity Services LLC’s holdings in NXG Cushing Midstream Energy Fund were worth $277,000 as of its most recent SEC filing.

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.