Tortoise Midstream Energy Fund (NYSE:NTG) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $44.85 and traded as high as $55.50. Tortoise Midstream Energy Fund shares last traded at $55.35, with a volume of 13,773 shares changing hands.

Tortoise Midstream Energy Fund Stock Performance

The firm’s 50 day moving average is $50.30 and its 200 day moving average is $45.05.

Tortoise Midstream Energy Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 22nd will be issued a dividend of $0.81 per share. The ex-dividend date is Friday, November 22nd. This represents a $3.24 annualized dividend and a dividend yield of 5.78%. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is presently -10,610.08%.

Insider Transactions at Tortoise Midstream Energy Fund

In other news, major shareholder Saba Capital Management, L.P. bought 4,725 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of $44.84 per share, for a total transaction of $211,869.00. Following the purchase, the insider now directly owns 515,767 shares in the company, valued at approximately $23,126,992.28. This trade represents a 0.92 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Tortoise Midstream Energy Fund

Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. raised its stake in Tortoise Midstream Energy Fund by 3,900.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the investment management company’s stock valued at $43,000 after purchasing an additional 975 shares during the last quarter. Quarry LP acquired a new position in shares of Tortoise Midstream Energy Fund during the 3rd quarter worth approximately $73,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Tortoise Midstream Energy Fund in the second quarter valued at approximately $216,000. Matisse Capital grew its holdings in Tortoise Midstream Energy Fund by 7.0% in the 2nd quarter. Matisse Capital now owns 6,655 shares of the investment management company’s stock valued at $286,000 after buying an additional 435 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Tortoise Midstream Energy Fund by 13.3% in the 2nd quarter. Moors & Cabot Inc. now owns 8,500 shares of the investment management company’s stock worth $365,000 after acquiring an additional 1,000 shares during the last quarter.

Tortoise Midstream Energy Fund Company Profile

Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.