NXG Cushing Midstream Energy Fund to Issue — Dividend of $0.31 (NYSE:SRV)

NXG Cushing Midstream Energy Fund (NYSE:SRV) announced a — dividend on Thursday, December 19th,Wall Street Journal reports. Stockholders of record on Friday, December 27th will be given a dividend of 0.3148 per share by the investment management company on Tuesday, December 31st. This represents a dividend yield of 13.1%. The ex-dividend date is Friday, December 27th.

NXG Cushing Midstream Energy Fund has increased its dividend by an average of 28.1% per year over the last three years.

NXG Cushing Midstream Energy Fund Price Performance

Shares of SRV remained flat at $41.20 during mid-day trading on Thursday. 44,235 shares of the stock traded hands, compared to its average volume of 30,507. The firm’s fifty day simple moving average is $44.32 and its two-hundred day simple moving average is $43.32. NXG Cushing Midstream Energy Fund has a 52 week low of $33.46 and a 52 week high of $47.34.

Insider Buying and Selling

In other news, CEO John M. Musgrave acquired 773 shares of NXG Cushing Midstream Energy Fund stock in a transaction on Thursday, November 21st. The stock was bought at an average price of $41.80 per share, for a total transaction of $32,311.40. Following the transaction, the chief executive officer now owns 3,095 shares of the company’s stock, valued at $129,371. The trade was a 33.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Alban sold 1,090 shares of NXG Cushing Midstream Energy Fund stock in a transaction on Tuesday, December 10th. The stock was 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 bought 968 shares of company stock worth $40,462 in the last quarter.

NXG Cushing Midstream Energy Fund Company Profile

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.