NXG Cushing Midstream Energy Fund (NYSE:SRV) to Issue $0.45 Monthly Dividend

NXG Cushing Midstream Energy Fund (NYSE:SRV) announced a monthly dividend on Monday, December 2nd,NASDAQ Dividends reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.45 per share by the investment management company on Tuesday, December 31st. This represents a $5.40 dividend on an annualized basis and a yield of 12.03%. The ex-dividend date is Monday, December 16th.

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

NXG Cushing Midstream Energy Fund Stock Up 0.3 %

Shares of SRV opened at $44.90 on Friday. The firm’s 50 day moving average is $44.54 and its 200-day moving average is $43.29. NXG Cushing Midstream Energy Fund has a 12-month low of $33.10 and a 12-month high of $47.34.

Insider Buying and Selling

In related news, CEO John M. Musgrave bought 773 shares of NXG Cushing Midstream Energy Fund stock in a transaction dated 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 directly owns 3,095 shares in the company, valued at approximately $129,371. This trade represents a 33.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 value of $48,788.40. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 968 shares of company stock worth $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.