Moors & Cabot Inc. Buys 1,000 Shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Moors & Cabot Inc. increased its stake in shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,500 shares of the investment management company’s stock after purchasing an additional 1,000 shares during the quarter. Moors & Cabot Inc.’s holdings in Tortoise Midstream Energy Fund were worth $365,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Advisor Group LLC boosted its position in shares of Tortoise Midstream Energy Fund by 8.8% during the second quarter. Private Advisor Group LLC now owns 12,098 shares of the investment management company’s stock valued at $520,000 after buying an additional 977 shares during the period. Matisse Capital grew its position 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 acquiring an additional 435 shares during the last quarter. Financial Advocates Investment Management increased its stake in Tortoise Midstream Energy Fund by 1.3% in the second quarter. Financial Advocates Investment Management now owns 20,166 shares of the investment management company’s stock worth $866,000 after purchasing an additional 259 shares during the period. Meixler Investment Management Ltd. increased its stake in Tortoise Midstream Energy Fund by 1.1% in the second quarter. Meixler Investment Management Ltd. now owns 105,958 shares of the investment management company’s stock worth $4,551,000 after purchasing an additional 1,125 shares during the period. Finally, Calamos Advisors LLC boosted its stake in shares of Tortoise Midstream Energy Fund by 33.7% during the second quarter. Calamos Advisors LLC now owns 9,366 shares of the investment management company’s stock valued at $402,000 after purchasing an additional 2,360 shares during the period.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. purchased 4,725 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $44.84 per share, with a total value of $211,869.00. Following the transaction, the insider now owns 515,767 shares of the company’s stock, valued at $23,126,992.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Tortoise Midstream Energy Fund Price Performance

Tortoise Midstream Energy Fund stock opened at $47.68 on Friday. The firm has a 50-day moving average of $44.23 and a two-hundred day moving average of $41.06. Tortoise Midstream Energy Fund, Inc. has a 1 year low of $31.54 and a 1 year high of $48.02.

Tortoise Midstream Energy Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a $0.81 dividend. The ex-dividend date was Friday, August 23rd. This represents a $3.24 annualized dividend and a yield of 6.80%. This is a boost from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. Tortoise Midstream Energy Fund’s dividend payout ratio is -10,475.77%.

Tortoise Midstream Energy Fund 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.