Concorde Asset Management LLC Invests $503,000 in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Concorde Asset Management LLC bought a new position in shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,700 shares of the investment management company’s stock, valued at approximately $503,000.

Several other hedge funds have also recently added to or reduced their stakes in NTG. Principal Securities Inc. purchased a new stake in shares of Tortoise Midstream Energy Fund in the 4th quarter valued at approximately $32,000. Steward Partners Investment Advisory LLC increased its holdings in Tortoise Midstream Energy Fund by 3.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,400 shares of the investment management company’s stock valued at $362,000 after buying an additional 375 shares during the last quarter. Quantedge Capital Pte Ltd boosted its position in shares of Tortoise Midstream Energy Fund by 23.4% during the 4th quarter. Quantedge Capital Pte Ltd now owns 19,228 shares of the investment management company’s stock worth $668,000 after acquiring an additional 3,641 shares in the last quarter. Quarry LP acquired a new position in shares of Tortoise Midstream Energy Fund during the 4th quarter worth about $382,000. Finally, Everett Harris & Co. CA purchased a new position in shares of Tortoise Midstream Energy Fund in the 1st quarter valued at about $203,000.

Tortoise Midstream Energy Fund Stock Performance

NTG stock opened at $47.55 on Thursday. The business has a 50 day moving average price of $44.14 and a 200 day moving average price of $41.02. Tortoise Midstream Energy Fund, Inc. has a fifty-two week low of $31.54 and a fifty-two week high of $48.02.

Tortoise Midstream Energy Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 6.81%. The ex-dividend date of this dividend was Friday, August 23rd. This is an increase from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. Tortoise Midstream Energy Fund’s payout ratio is currently -10,475.77%.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. purchased 4,725 shares of Tortoise Midstream Energy Fund stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of $44.84 per share, with a total value of $211,869.00. Following the completion of the transaction, the insider now directly owns 515,767 shares in the company, valued at $23,126,992.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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.