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

NXG Cushing Midstream Energy Fund (NYSE:SRV) declared a monthly dividend on Wednesday, February 5th,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 11.61%. 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 Price Performance

Shares of SRV traded up $0.33 during mid-day trading on Wednesday, reaching $46.53. 1,265 shares of the company were exchanged, compared to its average volume of 39,390. NXG Cushing Midstream Energy Fund has a 52 week low of $34.42 and a 52 week high of $50.61. The business has a 50 day simple moving average of $45.60 and a two-hundred day simple moving average of $44.23.

Insider Activity at NXG Cushing Midstream Energy Fund

In other NXG Cushing Midstream Energy Fund news, CEO John M. Musgrave purchased 773 shares of NXG Cushing Midstream Energy Fund stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 3,095 shares of the company’s stock, valued at approximately $129,371. The trade was a 33.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Alban sold 1,090 shares of the stock in a transaction 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 three months, insiders acquired 968 shares of company stock valued at $40,462.

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.