Tortoise Midstream Energy Fund (NYSE:NTG) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $42.07 and traded as high as $50.10. Tortoise Midstream Energy Fund shares last traded at $49.06, with a volume of 13,119 shares trading hands.

Tortoise Midstream Energy Fund Stock Down 2.2 %

The stock has a 50 day moving average price of $45.46 and a two-hundred day moving average price of $42.07.

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. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $3.24 dividend on an annualized basis and a dividend yield of 6.60%. This is a positive change from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. Tortoise Midstream Energy Fund’s dividend payout ratio is currently -10,475.77%.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 4,725 shares of Tortoise Midstream Energy Fund stock in a transaction that occurred on Friday, August 30th. The shares were purchased at an average price of $44.84 per share, with a total value of $211,869.00. Following the completion of the acquisition, the insider now directly owns 515,767 shares in the company, valued at $23,126,992.28. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Tortoise Midstream Energy Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Advocates Investment Management boosted its holdings in Tortoise Midstream Energy Fund by 1.3% in the 2nd quarter. Financial Advocates Investment Management now owns 20,166 shares of the investment management company’s stock valued at $866,000 after purchasing an additional 259 shares in the last quarter. Matisse Capital lifted its holdings in shares of 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 during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Tortoise Midstream Energy Fund by 3,900.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the investment management company’s stock valued at $43,000 after buying an additional 975 shares in the last quarter. Private Advisor Group LLC grew its holdings in 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 worth $520,000 after acquiring an additional 977 shares during the period. Finally, Moors & Cabot Inc. raised its position in Tortoise Midstream Energy Fund by 13.3% in the second 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 in the last quarter.

About Tortoise Midstream Energy Fund

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.