Tortoise Midstream Energy Fund (NYSE:NTG) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $42.92 and traded as high as $50.79. Tortoise Midstream Energy Fund shares last traded at $50.45, with a volume of 4,207 shares changing hands.

Tortoise Midstream Energy Fund Stock Up 0.0 %

The business’s 50 day simple moving average is $46.90 and its 200-day simple moving average is $42.92.

Tortoise Midstream Energy Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were paid a $0.81 dividend. The ex-dividend date was Friday, August 23rd. This is a boost from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a yield of 6.42%. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is presently -10,475.77%.

Insider Buying and Selling at Tortoise Midstream Energy Fund

In other news, major shareholder Saba Capital Management, L.P. bought 4,725 shares of the business’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $44.84 per share, for a total transaction of $211,869.00. Following the completion of the acquisition, the insider now owns 515,767 shares in the company, valued at approximately $23,126,992.28. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Investors Weigh In On Tortoise Midstream Energy Fund

Hedge funds have recently bought and sold shares of the company. Almitas Capital LLC raised its holdings in shares of Tortoise Midstream Energy Fund by 34.7% during the second quarter. Almitas Capital LLC now owns 180,717 shares of the investment management company’s stock worth $7,762,000 after acquiring an additional 46,578 shares during the period. Concorde Asset Management LLC acquired a new stake in shares of Tortoise Midstream Energy Fund during the second quarter worth $503,000. Bayshore Asset Management LLC acquired a new stake in shares of Tortoise Midstream Energy Fund during the third quarter worth $518,000. Ariadne Wealth Management LP acquired a new stake in shares of Tortoise Midstream Energy Fund during the second quarter worth $452,000. Finally, Meixler Investment Management Ltd. raised its holdings in shares of Tortoise Midstream Energy Fund by 10.8% during the first quarter. Meixler Investment Management Ltd. now owns 104,833 shares of the investment management company’s stock worth $4,018,000 after acquiring an additional 10,217 shares during the period.

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.